New Cthulhu Movie?

Unless you've been hiding in a lead-lined bunker with no internet connection for the last few days, likelihood is that you've encountered some aspect of the viral marketing campaign for JJ Abrams forthcoming untitled movie aka 'Cloverfield' aka 'The Parasite' - think Blair Witch Project meets Godzilla. If not, you can view the trailer that started the whole ball rolling here. Though I'm loathe to be party to said viral marketing, one claim that keeps cropping up is that the movie might be inspired by Lovecraft, or be about the return of Cthulhu. Though my own gut reaction is that this will probably turn out not to be the case, the buzz of interest this is generating around Lovecraft may well mean that Hollywood moguls will begin to take heed of the call of Cthulhu...