Playing advocate for a moment, as there's been behind the scenes work on both First Class and Wolverine for some time. But if they didn't want to have both timelines going at the same time- or any two timelines going on at the same time- why would they be doing Wolverine now after First Class?
I said before I simply think its too late for X4. They should have done right by that one and done it to immediately correct The Last Stand. Ironically, today it probably would have been automatically redoing itself. It's like they are competing with themselves in addition to all the other comic book movies. If Wolverine proves a critical and financial success this time, which do you do next? They don't need to divide and conquer like they did after 3.