Though he's still reeling from the financial collapse of his latest attempt to tell the Don Quixote story, Terry Gilliam is already dusting himself off and working on his next project, and one that seems a lot more likely to actually happen. According to a tipster at Bleeding Cool, Gilliam is planning to convert Time Bandits in 3D, presumably with plans to release it in theaters at some point in the future-- and hey, maybe make enough money to fund The Man Who Killed Don Quixote after all.

If Gilliam were simply trying to make a buck, though, he probably would have chosen a different movie. Time Bandits was a success at the time, ranking as the #10 film of 1981, but isn't as fondly remembered as some of Gilliam's later films, like the cult classic Brazil or the more recent adventure Twelve Monkeys. There's also no evidence that audiences will flock to a film upconverted to 3D. Cameron is still planning to do it with a Titanic 3D re-release in 2012, but Disney has pushed back plans to give Beauty and the Beast similar treatment, quite, possibly because they're not sure how much money they can make.

As someone who is distinctly pro-whatever Terry Gilliam wants to do, I stand firmly behind this. But is it an adequate replacement for a new film, Don Quixote-themed or otherwise? Of course not.