Lots of good points are being made here. While I certainly wouldn't be shaking a pitchfork in the JHC's direction if a new Labyrinth film were to actually go into production, I very much doubt a new film would be any good. The original was fantastic because of the wonderful people collaborating on it behind the scenes - Brian Froud, Jim Henson, David Bowie, Terry Jones etc. etc. While they could potentially get some of those people back I don't see any new film matching the magic of the first, and it would inevitably be disappointing for hardcore fans. The only potential advantage of a new film I can see is that it would attract renewed attention to the original, which can only be a good thing.