My immediate reaction to this news was a "no thanks."
I love Blomkamp's visual style, and I've said before that if anyone were to reboot/remake the series, he'd pull it off aesthetically.
However, I already have 3 (maybe even 4) ALIEN films I very much love and cherish. Pretty reluctant to accept any new sequels, especially after my immense disappointment with Prometheus. I don't like the notion of resurrecting Hick's either. ALIEN 3's opening may have been the worst way the character could have been thrown away, but it's been over 20 years. Let's not go with this fanboyish story route.
Since this project will happen, however, I'm just going to hope for the best. If we're disregarding ALIEN 3 and Resurrection's canon, please do it in a classy way.