Smokin' Aces told the story of Buddy Israel, (Jeremy Piven) a coked up Vegas performer who is about to testify against the mob. Once the news of the one million dollar contract on Buddy's head hits the streets, pretty much everyone in the western hemisphere who knows how to use a gun is out to blow him away. Since the original film took an "everybody dies" approach, the prequel seems like the smart way to go, though it remains to be seen how many members of the original (and pretty damn impressive) cast will be coming back. The Empire article suggests that the prequel might go straight to DVD, but time will tell.
Personally I find myself in the "meh" category. The original was a staccato barrage of violence that tried to be Pulp Fiction for people with short attention spans. Given the facts that the original currently has a 27% rotten rating at Rottentomatoes.com and that it pulled in a mere $35 million during its theatrical run, I can't imagine too many folks are salivating in anticipation of the further adventures of Buddy Israel and the many people who want him dead. What do we think, people? Does the world need a Smokin' Aces prequel?