http://kotaku.com/5327179/tropico-3-is-360-bound/gallery/
One less game to look forward to. I guess I'll just stick with Tropico Reloaded.

I'm getting scared I won't be able to handle this on my PC!

The console release is coming later... I am sure the main development was done for PC, and then ported.

Yeah, I wouldn't assume anything yet. Considering this is (I think) Kalypso's first foray to consoles, I would be more concerned with THAT version than the PC one.
And they might be smart enough to optimize each for what the respective platforms do well.

Also, keep in mind that the developer is Haemimont games, developer of Imperium Romanum and Celtic Kings (the latter is available on GOG, BTW). I don't think they would "dumb it down" - streamline it, maybe. But let's see.

More streamlined could be good... streamlining does not automatically mean umbed down, in my opinion. As someone who only dabbles in strategy games, I know I would play them a lot more if certain aspects were streamlined in some ways.

A port from PC to consoles is fine with me. In my opinion Tropico should be a PC game made for PC gamers.

Yes, just buy Tropico Reloaded.