Producer Rod Fergusson said Gears of War 3 is the "kind of a culmination" of his career and described it as a "bittersweet" moment.
However, design director Cliff Bleszinski said that Fergusson is far "too humble" and should not consider Gears of War to be the pinnacle of his, or the studio's, achievements.
"If anything, Rod always comes across as too humble in the press and I come across as too cocky," he told Digital Spy.
"But I can tell you know that if for the rest of my life I am only remembered for a f**king chainsaw gun, I will drink a bottle of whisky and put a gun in my mouth. I am far from done with everything.
"There is plenty of life left in Gears, but you also don't want to beat a dead horse, right? If there was another Gears game down the line, it would have to play around in another couple of spaces.
Bleszinski continued: "It could never just be, 'Hey, Marcus and Cole are back [and] there's more Locust!' Gears is amazing and I love it, absolutely adore it, but it will not be the final legacy of this studio."
He added that Epic Games is looking at where the games industry is going in future, and how social, mobile and triple A development comes together.
Bleszinski said: "As a studio, we are considering where the industry has shifted. In a few years' time I think people will still want to pay $60 (£37) for a AAA rated game, but they are not going to want to pay $60 for an OK game.
"We are still trying to work out what social and mobile mean for the entire industry. What are the ways that we can bring triple A to those realms? Stay tuned."
Gears of War 3 will be released exclusively on Xbox 360 on September 20 worldwide.
More Gears of War 3 coverage:
> Feature: Truly Epic: Grinding the Gears of War
> Gears of War 3: Horde 2.0 preview
> Gears of War 3: Cliff Bleszinski on multiplayer
> Gears of War 3: Rod Fergusson on Horde 2.0
> Gears of War 3 interview: Lee Perry on gameplay and enemies