Twitch is currently reporting (via those perpetually pesky "sources") that the project is back on the table, and that among possibilities for directors, Spike Lee is the one currently at the forefront.
Lee, who hasn't directed a film since 2008, had recently spoken to Charlie Rose about his myriad issues trying to get films produced of late, including a sequel to his most successful movie, The Inside Man. The Hollywood Reporter has quotes from the interview, if you're interested.
If Twitch's sources are correct, then perhaps Lee does have something in the pipes. It's an intriguing pick for a project that, at one point, drew interest from the likes of Steven Spielberg and Will Smith. The script is reportedly rooted far more heavily in the original manga that the film was adapted from, but considering how many transitions this project has gone through over the last few years, who even knows what is real and what is conjecture at this point?
While most every part of my soul just wishes this project would die a quiet, unremarkable death, I have to admit: the Spike Lee pick is an intriguing one. I suppose we'll just have to see where, if anywhere at all, this goes.