Well, at least screenwriter Peter Craig spared no part of his imagination when it came to writing the Cowboy Bebop script. According to MTV, he recently handed in the script, which Keanu and the studios "loved," but pointed out it would cost half a billion dollars to make.
So, he's onto doing a re-write. The process usually goes: First draft, second draft, rewrite and polish. So my guess would be that they're simply scaling back some of the big scenes, moving certain things indoors where they can re-use the sets, and such like that. But in terms of plot? I doubt much is going to be changed. Which is only good news, in my mind.
I'm expecting this to fall in the big-budget range, considering the scope of the project, the pressure from Sunrise, and Keanu's involvement. My guess would be $120 million -- just as a ballpark estimate -- as that would give the film a large budget, although depending on what sort of SFX are required, that could quickly balloon up.
I'm pumped for this. Let's do it already!