I doubt they'll ever make a film of the musical, as awesome as that sounds :uhno:
Like I said, I have mixed feelings, but I guess I can be excited and curious about what new perspective will they give to TLK. The original will always be around anyway, as long as they don't touch it I'm good.
My concern is that many people are saying they're confident since the animals looked alright in The Jungle Book, when it's just simply not the same case. In TLK they'll have to do more than make realistic lions move their lips. Not even Aslan in the Narnia series looked very expressive, and I can't imagine how they'll make Zazu, Timon or Pumbaa (herbivores in The Jungle Book were barely expressive at all). But I'm also confident that they have these things considered and will come up with a solution. Maybe they won't be as realistic as in Jungle Book, who knows.
As for the cast... Mufasa is the hardest one, James Earl Jones is irreplaceable, so I'm hoping they're considering bringing him back. Jeremy Irons would also be very hard to recast, I wouldn't like anyone else, but Benedict Cumberbatch gets pretty close :p