I'm definitely waiting for King Kong, since Peter Jackson is on my all-time heroes list after Heavenly Creatures and the masterwork Lord of the Rings trilogy. Jackson has taken the revolutionary step of posting extensive info about the production online; check out the fascinating "production diaries" on the Kong is King website.
But my most-awaited pick is Richard Linklater's adaptation of Philip K. Dick's A Scanner Darkly. The trailer is a trip; they seem to have adapted the "digital rotoscoping" technology used so brilliantly in Linklater's astonishing Waking Life and added a whole reality-bending element.
Linklater has made a string of extraordinary films over the last ten years or so, including Before Sunrise, its nine-year follow-up Before Sunset, and the aforementioned Waking Life. He also has a pretty sharp commercial sensibility; School of Rock rose above its pedestrian Hollywood roots by combining Jack Black's sweetly manic performance with a keen sensitivity to the kids in the band. A Scanner Darkly looks to be another notch in his belt; even the Philip K. Dick Trust has high hopes for this one.
Linklater himself has a long cameo in Waking Life as a guy (himself?) telling a long story about Philip K. Dick, dreams, and time travel. He seems to be a director comfortable with serious investigations into the nature of consciousness, the contours of reality, and the netherworld between imagination, dreams, and the temporal and spatial consensus reality. In Linklater, Philip K. Dick may finally have found the director he's been posthumously seeking.