Having Brainiac in the film will satisfy the over-the-top CGI requirement that seems to be prevalent in today's movies. But I think it would be a good idea to have more than one villain. Despite the massive camp in Superman 2, having the Kryptonians and Luthor together really jazzed it up.
Still, 2012 seems like a long time to wait. I'd rather they bring back the old serials. Have 45 minute mini-adventures that come out every 6 months or so attached to other movies.