It should also be noted that those failures were not a result of the material, but complications on the production side. Hell, Crusade was essentially a victim of deliberate sabotage! Quite the opposite. Over the years he's been very straight with the fans that he won't talk about things unless they're actually going to happen. Indeed, I think Jerry Doyle tried something like this a few years ago (getting a new project going by first getting people excited for the idea) and JMS was substantially less than impressed IIRC. So when he says he's going to write a script and believes he can raise funding if WB passes, I have no reason to doubt either of those statements. That's how credibility works.