Halo 3 sees death of Master Chief: Is this the climactic end of the Halo story?

So with the news that Master Chief is to die in Halo 3, we would like to know if this is the climatic ending to one of the story of Halo, which is one of the greatest games to come from the Xbox? Although it is not official that the Master Chief will die, the latest issue of EGM, talk as if they are remembering our hero.

In the Halo 3 sponsored Project Revolution tour, it seems as if there will be a musical celebration honoring the life and legend Master Chief John-117, if that does not sound like he will die, then I must be stupid. But then again would Bungie give away a massive spoiler like this?
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Check out the First ever single-player hands-on review of Halo 3

Is this the climactic end of the Halo story?