Sorry Cliffy. Here is the latest rumour from film site IESB:
...the IESB has been informed [director]Wiseman is off Gears as well*** and that New Line Cinema will most likely not move forward with the film at all. Our source is saying that the studio has concerns with ballooning budget of the film.
It's too early to tell if this is a load of BS or completely true. But remember, this is Hollywood we're dealing with now. Everything regarding game movies should be seen as rumour at best until you are actually sitting in a movie theatre with a sticky floor, having just forked over $10 to see what we've been talking about.