The idea, according to Variety, is “a complete reimagining of the story” of BSG. This is the kind of news that gives geeks (like us) hyperventilation levels of anxiety. On one hand: Hey, there’s going to be a Battlestar Galactica movie! On the other hand: Hey, someone is going to go in and “reimagine” a much-beloved franchise. (Sigh.)

Aside from the news that Universal is moving forward with plans for a film, there are very few details about what this new flick will entail, so we put on our Wild Speculation Hats and decided to break down what could go very right—or very wrong—with this new Battlestar reboot.

Pro: The original series creator Glen Larson is signed on to produce.

Larson—the guy who executive-produced the original show in the late 1970s and on whose work Ronald D. Moore’s updated series was based—is locked in to produce the new movie. Considering he did a bang-up job creating the show’s original aesthetic, there’s no reason he couldn’t shepherd another version for the big screen.