Well, not quite. But Take-Two Interactive has "temporarily suspended" the ultraviolent video game (originally slated for a July 10 release) after having a week of serious setbacks. The game was flat out banned in the UK, and the ESRB rated the US release AO, as in Adults Only, as in most retailers won't sell it and Nintendo and Sony won't allow it on their systems. Read Take-Two Interactive's statement at Gamespot, and visit IGN for some gory details about what it's like to use a Wiimote to saw someone in half from the groin up.
UPDATE: See what the ESRB has to say about everything over at Kotaku.