Initially Martin Campbell was supposed to direct the Michael Bay produced film, but he seems to have abandoned the project; leaving Ilidades to stomp out his notion of keeping the movie to a PG 13 rating. Iliades plans on taking the movie up to an R-rated level, keeping heaving on the gore and blood, according to http://www.pajiba.com.
The movie budget is up around the $60 million mark and seems to have gone through quite a few changes in the midst of production, including speculation of whether Naomi Watts will indeed be the starlet of the tale.
Universal is not about to let this movie, or its budget, get swept under the rug, they are just going to re allocate a new, smaller star and a less successful director. Which might work, except for the fact that the story is already written and lets not forget, a classic at that.