The webmaster for Black-Sabbath.com has updated curious fans on the whole Heaven & Hell project rumors. Here's what has been printed on the site's news page:
Known facts:
There will be a Black Sabbath: The Dio Years box set. Said box set will contain at least two newly recorded tracks. Tony & Ronnie collaborated on the newly recorded tracks.
Rumours/Speculation:
Geezer Butler & Bill Ward will comprise the rhythm section on the new tracks.
Iommi/Butler/Ward/Dio will tour in 2007 as "Heaven & Hell".
The Dio Years set may include the video mentioned by Dio on the Live Evil recordings.
Update Sep 28: "I've since gotten email from an official source that wishes to remain anonymous that I was 100% correct on the legal situation with Tony Iommi and the name "Black Sabbath". It's still his sandbox, so there's no legal reason that would stop them from going out under the name Black Sabbath should they choose to. Should this all come off, and the name "Heaven & Hell" is used, it's my belief that it was some artistic choice, and not a legal one."