I'm huge fan of The Lee/Kirby vision. Especially their X-Men vision. I'm a huge fan of the First 5(well...not Angel). I'm a bloodthirsty, fanatical Scott and Jean shipper to the point where every time I see a Grant Morrison X-Men book in a store I have to fight every instinct in me to not rip it apart with my teeth and bare hands. So I'd be all for a movie like this. Especially if they get Kelsey Grammar and Patrick Stewart back. They were born to play those characters.
If they treat it as a reboot I'm all for it. Because most of Marvel's reboots have been far superior then the previous versions. They all haven't done as well at the box office, but that's another matter. Wolverine is fine when he's just a another character. As it has been said, the problem with the previous films is that it was all about him. It's become so bad that in the new cartoon shows they have to give him top billing. "Wolverine and The X-Men" indeed. Certain characters such as Cyclops, and to a certain extent, Rogue and Storm were shit on in order to make Logan look good. Of course Berry and Paquin were given actual material to work with, and came up short. Especially Berry. Marsden wasn't even given that. And as proven by Superman Returns, he could and should have been an excellent Cyclops.
The problem this film is going to go up against is the fact that the huge popularity of the previous films made it all but impossible for any casual viewer to give a shit about any other character other then Wolverine. Scott Summers reputation is pretty ruined now. So if they treat it as a prequel, and not a reboot, they're in for a world of suck. And even if it is a reboot, I think it will suck because Fox is behind it and, as a rule, they make shit movies. Just look at The Fantastic Four.
But I heard Josh Schwartz is writing the script. And if it's anyone I have faith in to do it right, it's him. He excels at Teen Drama(The OC, Gossip Girl). But he's also good at light-hearted, romantic, fun, romps with a lot of heart and soul that is way better then it has any right to be. Namely my favorite show, Chuck. Richard Donner I could take or leave. I liked the first Superman movie, even though the plot was stupid and Gene Hackman played Lex Luthor as a used car salesman. The second one, not so much.