No, you aren't going to believe it. I didn't either when Withstand the Fury Dragon informed me, so I checked the official Ultima X website, and it redirected me to this press release:
June 30, 2004
Dear Ultima X: Odyssey community members,
As of today, development on Ultima X: Odyssey has ended. We feel that Ultima Online is where we need to focus our online efforts and most of my team will be moving to the UO expansion pack, the UO live team, and an unannounced Ultima Online project. Development on UO will be greatly enhanced as we consolidate our resources behind that franchise.
This isn't an easy decision but it's the right move for the future of all things Ultima, including the community and the team. We look forward to sharing our plans for the future of Ultima Online very soon.
I would like to thank all of the Ultima X: Odyssey supporters who have been with us from the beginning. I hope you will continue to support the Ultima franchise and the development team as they transition to new projects.
David "InQWis" Yee
Producer, Ultima X: Odyssey
It is interesting to note, however, that the official UXO site is still accessible from the main page after the splash page, for those who want to view it as a memory.