Also glad this rumor isn't true. Pitt can bring it when he wants too, but I feel he would be too relaxed and 'cool' for MI picture. At least Cruise had intensity.
I actually do think that Mission Impossible could be a franchise that could spawn a lot of movies. But Cruise made it too much of a solo vehicle.
If they got back to the team concept more, which means making it about a group of interesting characters working together, not just a few more people with a quirk here or there, then it would be great.
Personally I would like to see them revamp the series and remove the Jim Phelps as traitor thing. Perhaps have Phelps as a mentor, but the 'main character' would be a female this time. Someone like Scarlett Johansen or Rosario Dawson.