The BSG movie keeps getting side tracked because of larger profile productions that come down the pipe that suddenly get Bryan Singer's interest. Then B.S. goes off to do that project, and Galactica gets sidelined another couple of years. The hopes of doing a direct continuation with any of the original cast keep getting dimmer and dimmer, as many of them are now in their 60's (or older, except for Noah Hathaway, whom I believe is near, or just above 40), and today's younger crowd is not going to want to watch a movie filled with people they aren't familiar with.
The only hope of doing anything resembling the original series at this point is to do yet another reboot...in movie form.
My biggest fear is that Bryan Singer and Tom DeSanto will make this look like a fanboy-gasm movie. I think, in order for it to succeed in the format being proposed, a "Wrath of Khan" approach is needed. Get a director and screen writer who is not invested in a lifetime of Galactica lore.
I personally am not holding my breath for any Galactica movie.
Hard core old-schoolers are hoping for a movie that continues on the original series, and has absolutely NOTHING to do with the recent series. I am ambivalent. It could continue the original or the new series, and I'll be happy. But until then, until I see an actual trailer for it, it's a non-issue.