Thanks for the comments.
I understand that they could use the older King Conan story line based on the original story as written by the creator. No matter what I like or dislike about the idea, it's going to happen, and I will most likely see it at some point.
I just hope they are not trying to mimic the other Arnold films from the 80's to the point of it just turning out to be an uncomfortable parody. All they have is Arnold. The creative team of the original film most likely will not be involved, so I just don't get the marketing angel.
You know how in Superman Returns, the film makers used some of the retro old school Donner era film production elements, changed some locations (The Daily Planet) to fit in more with the comic style, and yet had a modern movie style at the same time? That did not work too well, and that is what I am afraid will happen with this Conan film. It would be nice if this film would use traditional 1980's era production tools and methods. There are a few old model makers out there that I personally know that would love the work.