Terry Gilliam is one of the most brilliant directors of his generation, exploring very thought provoking subjects. Brazil is one of my favourite films, and I highly recommend it to anyone. He gets the idea of socialist / corporate dystopia, which is often portrayed in the world of Aliens.
He has a sensibility which is not far removed from that of Jeunet of whom I was a fan before A:R came out. I had great expectations of A:R and was let down. In much the same way, as much as it may seem interesting to have a TG directed Aliens film, I suspect it would fail to deliver on expectations.
Yes, the guy in the rubber suit at the end of Alien looked hokey. He's right.