Funnily enough...Peter doesn't actualy lie, he just doesn't keep his mouth SHUT about his ideas for the game.
He doesn't realize that those Idea's will cost too much, so he decides to scrap alot from the game when he realizes the budget's running out.
Basically: He tells you his ideas for the game, which most developers usually keep to themselves unless they KNOW it's going to be in there. Peter just says what's on his mind, he doesn't lie or make false promises.
Anyway, I didn't really listen to the hype of Fable 2, I just bought it and thought it was great. Hell, I'd give a 8/10 and I'm definatly buying Fable 3...And 4 and 5 when they come out.