Here's my 2c.
First, I loved Frank Miller's work in the 80's. The Dark Knight Returns and Elektra Assassin are some of the most influential and groundbreaking works in the genre - and while perhaps don't cover the same range of issues as Watchmen, they still represent the very best comic book storytelling .
I still maintain that DKR is the best Batman story, ever (followed only by BAtman:Year one, another Miller masterpiece).
Second, while I'm not a fan of Miller's more recent stuff, and his work as a director, I acknowledge his genius and contribution to the comic book genre, and as such I feel very sad to hear of his illness. I hope he gets through chemo successfully and makes a full recovery (goes into remission). I've had a lot of experience with loved ones who've had cancer, so I have an inkling of the difficult journey he's on - and I wish him nothing but the best.
Having said all that, I'm really sorry to hear he's doing yet another Dark Knight Returns. I hated DKSA, and All Star Batman partially because Miller's contributed to the "Batgod" problem that people complain about - but mostly because they weren't very good.
Anyway, here's my main problem with both DKSA and Master Race. The Dark Knight Returns was a ballsy story, because it was about the END of Batman.
It was meant to be a final Batman story, and it was a fitting monument to the character.
Now, it looks like it was just that Batman took at 10 year break, but he's back into it.
In DKR, Batman went back to a gritty, primal place as he did what we think of Batman doing, taking on thugs and crazed murderers - the Superman fight was kind of icing on the cake - and Batman had to literally die to win that one.
In DKSA Batman was back to his old tricks, with none of the introspection or character development that he underwent in DKR - and he was pretty much omnipotent, he takes down Superman pretty much without breaking a sweat (although helped by Flash and Atom - but even then taking down Superman shouldn't be easy, come on ! ) Bats is prepared for every situation, and even let Luthor beat him up, just for laughs so he could watch the Hawk-kids kill LL.
It's almost as if Miller forgot everything that made DKR great, but kept the lurid elements of that story - but the bigger crime is that having a sequel pretty much undoes the greatness of DKR, as it's "The final Batman story.....except until the next one comes along"
There are so many other stories Miller could have told - why go back and **** all over one of the greatest comic stories ever ? I suppose its a bit like "Before Watchmen" just a cash-cow. Sad.
Anyway, the saddest thing is that my generation will remember Miller for the greatness of DKR and Elektra Assassin, and today's generation will remember him for the overblown crap that was DKSA , All-Star Batman, and now this... the last, last Batman story.
Just IMO of course.