^ Yeah, I've read that about Morgan too (but I'm too lazy to google it).
Given the credentials of this director, this sounds a bit like the main man will be watered down and PG-ed (Lobo teams up with a young girl on Earth? Hmmm). I think Lobo may be one of those characters who works better in a comic than in a live-action adaptation. It's hard to think of someone who can fit the physical bill and capture the attitude too. The character may also just look silly onscreen.
If Guy Ritchie was still involved, I'd probably be more interested.