I would never in a million years would have guessed the Wachoski Brothers for this project.
I am a huge fan of Speed Racer and while I wouldn't have pick them I am very excited for one reason: The Wachoski's are A-List Directors regardless of how any of us feel about them. As A-List Directors, this should assure that this movie will get the proper budget ($100m +), and little to no involvement by the suits in the writing of the script and direction of the movie.
Also with the Wachoski Brother as directors means that this movie won't be a kiddie tongue in cheek comedy/adventure movie done by some director who greatest accomplishment was directing an episode of 24.
While I loved Speed as a kid, I have re-watched episodes recently and while there is still many cool elements of the series, there is also many goofy silly elements as well. With the Wachoskis, we will get a movie that where they will update an adaptation of the old series that will be taken seriously in its execution.
My only fear is that it could be too dark which is not what SR was, but I am confident that they realize that SR has a lighter tone than both the Matrix movies and V. I also feel that they are good enough directors to adapt their style to the subject matter.
This movie should have elements of Indiana Jones as far as the balance of adventure, humor, and seriousness of the story.
There should also be a coolness factor too that would come from the racing and car chase scenes that should includes elements of the French connection, The Fast and the Furious, and even Matrix Reloaded.
Good or not, this will be a high profile movie and I feel the Speed Racer deserves that as it has a place in Pop culture.