On the one hand, I'm very intrigued. I adore the Narnia books, and the prospect of someone doing the whole series is very appealing to me. But they say that they're planning five movies, which worries me a little, in that it probably means that they're leaving out The Magician's Nephew (my personal favorite). And I have to wonder how they're going to handle the religious subtext. I mean, you can't ignore the fact that this story is largely-undisguised Christian allegory. If they try to whitewash that, it'll gut the story. If they don't, they risk getting slammed by both the left and right.
Still and all, I wish them the best. It's good to see classic fantasy getting some respect, and Narnia deserves it...