According to Gears of War creator Cliff Bleszinski, quoted by Gamefront, the Gears of War movie is in "development hell." If you're unfamiliar with Hollywood terminology, this means that the project is being shuffled around from person to person, and desk to desk, with no real heat behind it at the moment. In the words of Cliffy B:
“It’s in development hell right now. Who knows what’ll happen. It took however many years for Peter Jackson to make Lord of the Rings. Hollywood is a complicated beast. There’s all sorts of weirdness going on with who’s working on it, what’s going on here and there. But, hopefully it happens. Maybe the Gears 3 success will generate more interest in it. I’d love to see it. I’d rather have a movie that’s great and true to the franchise, than a movie that sucks. I’d rather not have a movie, than a movie that sucks.”
In other words: It could happen, still, if someone powerful in the entertainment industry gets behind the project and makes a big push for it to get back on track. I'm not sure if I want that to happen or not; I'm with Cliff here, I'd rather not see a movie based on a game than see a bad movie based on a game.
What about you? How do you feel about the Gears movie?