The article at Horror Year Book curiously leaves out any mention of official involvement with series creator Don Coscarelli, nor does it confirm if this new Phantasm will be a feature length film or some breed of episodic web content. But it does cite a choice quote franchise staple Reggie Bannister dropped earlier this year at a horror convention, "We all feel real good about 2009. Thirty year anniversary of the first picture. We sure would like to see some spheres flying around, that yellow shit flying fast and furious, and dwarves scittering and stuff like that. We're going to do our best. So we're trying to bring you some new stuff."
If that's not evidence enough that the land of brain splattering spheres and grave robbing alternate dimensions is once again in our future, the forum member who started it all provided a snap of Reggie Bannister in the mystery project. Either something's legitimately on our way or Bannister likes wandering the woods with a gun in his hand. Both ideas amuse me.