If this movie does end up happening, the GT name (IMO) has officially sold out.
I entirely agree with you guys. At this point, we know nothing so we can't say for sure if the movie is gonna suck but I'm not very optimistic. Most of the concepts that have been discussed here have either been done already or deemed too cheesy (i.e: Fast & Furious/Thunderbolt). The ones that have been better received are ideas that don't sound commercially appealing (i.e: GT Academy documentary/modern Le Mans remake/documentary about motorsports around the world).
The thing is, whatever story they come up with is not gonna be in line with the spirit of the game because the game has no story to begin with. The identity of a game has no characters, no dialogues, no events, nothing. So, how can they tell a story about something that has no story? Well, they go all Hollywood-crap on it, you don't need to respect the identity of the original game/book/show and you don't even need a good story: Just a load of fancy cars, some boobs here, some fashion music there, a nice hunk, a bunch of PR and, presto facto, it'll sell!!!
Still, here's hoping for Sony Pictures to go the other way around with this movie. I wish that they end up giving us a new cult movie that does honor to the GT moniker. Sadly, I just don't see it happening. Heck, Sony still has to prove they can make a GT game that does honor to the GT moniker for the PS3.