[Update: We have additional Toy Story 3 Info! See post for details.]

Pixar’s John Lasseter was recently on hand at the Disney Animation Showcase in London, where he showed some footage and spilled some beans about the plots of the upcoming Pixar sequels, Toy Story 3 and Cars 2.

I can tell you upfront that the story revealed for Toy Story 3 pretty much confirms early rumors, while the plot of Cars 2 will be less down-home Southern-fried yarn, and more James Bond.

Pixar fans, if you’ve been waiting to know what’s in store for the next installments of two of your favorite franchises, keep reading.