That should be pretty decent news for the film. While I can't say that his subsequent work has brought him the same acclaim, getting an Oscar nomination for Shakespeare proved that he's at his best when dealing with classic literary romance. And while I would've loved to see Baz Luhrmann take it on (he was previously linked to the shebang), I can't really argue with the directorial direction they're going ... although I would very much prefer a stab at the original Pygmalion. Alas, no music-free wordiness for me.
The plan is to retain the film's 1912 setting and score, shooting in a number of London locales. But the big question will be whether audiences will care. Can rain in Spain bring in box office numbers? And when will ANYONE officially sign on to this sucker? Stay tuned!