I so hope he can pull this off, unfortunately horror/action directors don't seem to age as well as suspense/noir/drama directors do.
OFCS saved me from the latest Star Wars, Indiana Jones, Transformer and Terminator fiascoes, this may be another one I'll have to miss...but I hope not. Ridley Scott may be old, but he has an eye for quality, and he has clout. Here's hoping he can nail this, and give us a proper Alien trilogy (prequel, original, and Aliens of course).
*NOTE TO FOX - please put the money down and hire a talented writer and editor!*
(my other hand has fingers crossed for James Cameron and Avatar)