Well, not officially titled TS 2 but I just saw that Microsoft announced on the 19th they will be using the engine behind Flight Simulator X to create a new train simulator game.
Not much info yet, but here's a page on it:
http://www.microsoft.com/games/trainsimulator/
Not much info yet, but here's a page on it:
http://www.microsoft.com/games/trainsimulator/