Overall I am both excited and terrified by this news, now I know alot of others will be freaking out and saying things like "OMG NOW HOLLYWOODS BUTCHERING ANIME ON TOP OF OUR OWN CARTOONS!" Or some such. But really I say its too soon to say weather this project, if it does actually work out will be good or bad, and hey, NOTHING can ever be worse then Dragonball Evolutions, I mean seriously you couldn't make a bigger piece of crap then that if you tried (I mean look at Last Air Bender, Shamylan tried to ruin that, but heck, its still better then DBE, lol. And yes I know Avatar isn't an anime, but hey it was inspired buy anime & kung-fu films.)

Overall here's how I see it. If the movie gets a proper budget and the people who are working on it are genuinly fans of the series and try to stay as close to cannon material as they possibly can, this could turn out decent overall. I kind of imagine that it may turn out like the latest Ghost Rider movie. Somthing that really doesn't have that good of a story, but lots of really good action scenes & special effects, so basically just mindless action, which for a film based on a long running shonen is fine. I mean I'd rather have 90 or so minutes of mindless supernatural action then a sub-par piece of drek.

So yeah, while Bleach really doesn't make as much sense to adapt into a live action film as say... Black Lagoon or Baccano, with the proper care and budget, it can work and end up being a movie that at least decent and watchable overall.

Will that happen, who knows, probably not, it may end up another mess like Avatar: The Last Airbender or some of the weaker DC & Marvel comic films.

But yeah i'll be keeping an eye on this, and hoping that Hollywood (no matter how unlikely) is capable of producing a decent live action film based on an anime.