Difference between: "would be", "will be", and "is/are -ing"

Question

Which one is correct?

1. Heard you would be going.
2. Heard you will be going.
3. Heard you are going.

What differences are there?

Answer 1

They are all correct, depending on the tense and the "situation" (i.e. they are auxiliary verbs: http://www.talkenglish.com/Grammar/auxiliary-verbs-will-would-shall-should.aspx )

• You would be going to the dance, except for the fact that you have a broken leg.

• You will be going to the dance if your leg heals by then.

• You are going to the dance regardless of whether your leg heals.

I feel like there is a better explanation, so I would totally enjoy it if someone were to trump my answer.