Yeah, the Halo movie's on a long, unpaid vacation, but that doesn't mean Peter Jackson's WETA special effects studio have been sitting on their collective asses. They've already made a bunch of weapons and props for the film, and with the project doing naught but gathering dust, they figured they may as well send some over to Bungie, let them have a go. Here, you can see the results. Sure, Master Chief is handy with a pistol, but could he ever rock a sweater like that? No. No he could not.
Bungie Weekly Update 01/18/08 [Bungie]