According to Variety, the Coen Bros aren't aiming for a traditional remake -- they want to return to the original Charles Portis novel, and make a more faithful adaptation. Their version will be told from Mattie's point of view, as the original novel is, and keep Cogburn as a side player. The Coens will undoubtedly amp up the Biblical tone and include the darker elements ... like what really happens to her after the snakebite.
Plans to remake True Grit have apparently been in the works for some time -- it originally begun at DreamWorks, but was left behind when Steven Spielberg and his shingle split with Paramount. Undaunted by the task, the Coens are tackling it before their adaptation of Michael Chabon's The Yiddish Policeman's Union.
So, what else can you say? It's the Coen Bros, who will undoubtedly tackle a period Western as ably as they did a modern, revisionist one. On the other hand, it's John Wayne. It's the movie he won his only Oscar for. Do you dare touch it? I'm veering somewhere between neutral and excited myself, while simultaneously praying I don't live long enough to see anyone remake The Outlaw Josey Wales.
*By the way, did you know True Grit's screenwriter, Marguerite Roberts, was from Colorado -- my home state. It was also filmed here. I honestly never knew this. I feel something akin to civic pride now.