According to Ain't It Cool News, Sam Raimi's next project will be the Warcraft movie. This follows on yesterday's announcement that Spider-Man 4 is canceled, and that Raimi is done with the Spider-Man franchise. The Spider-Man movie series is going to undergo a reboot (yes, already) with entirely new cast and crew, which means Raimi is free to work on other projects.
If AICN's sources are correct and Raimi is going to be working on the Warcraft movie next, this is great news for the movie. While it is probably still a few years away from release, the fact that he's focusing on it now is a good indication the project is moving forward in the right direction.
AICN points out that with the success of Avatar the time is ripe for creating immersive virtual worlds, and you'd be hard pressed to find a more immersive world than Warcraft. Although lets all hope that the Warcraft movie doesn't become a cheap rip off of Avatar -- but with Raimi at the helm it's likely in safe hands.