Could be, but the word that's coming out on the net right now is that
they're abandoning IE completely. Gazelle might not be the final name
(just like Longhorn wasn't), but that's what's reportedly being said by
m$ at the moment.

http://www.jcxp.net/news.php?newsid=2650

"Update: It seems like IE's successor has been confimed to be "Gazelle",
a browser currently under development at Microsoft Research. It is said
to be more secure than FireFox and Chrome; keeping plug-in's sandboxed
within the browser, so it will not affect the PC if you stumble upon
some malware."

There's no lack of people reporting this:

http://www.google.com/search?q=ie8+gazelle

-Joe

Bishmer Sekaran wrote:
> Are they really going to abandon the Internet Exploder name for 
> "Gazelle"? It sounds more likely that "Gazelle" is just a codename for 
> the project that will be marketed as IE9.
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