With Scott at the helm, I see good things happening. Despite the available technology that we now have in entertainment, I see Scott going the more traditional approach, using real physical things to give that sense of tangibility, that sense of "real" that CGI is only now beginning to hit, and even then its still got a ways to go.
If Giger is brought into this, then we should see the Alien as it is meant to be, the perfect organism, the ultimate force. Aliens, yes, brought something to the table Scott had never considered, the Queen, but every subsequent film did something to the Alien to bring it further away from what it really was: A biomechanoid.
As the films progressed, the Alien became less machinelike and more biological, fleshier and less forboding. We saw a creature of strength, speed, agility, grace, and sheer ferocity become nothing more than particularly strong dog that you really don't want to piss off.
I sincerely hope the Alien is returned to its former glory: "I admire its purity....unclouded by conscience, remorse, or delusions of morality."
That purity needs to be brought back to the big screen.
Also, I would be glad to see Scott and Cameron do a joint project to bring something to the Alien saga. Each director has their own sense of storytelling and unique approaches to creating the stuff of nightmares.