He proved himself in LOTR to be a director that's not prone to forcing his own flair into movies when it isn't wanted. I think he should be a director that specializes in remakes and book-to-film pictures, because he does an excellent job at it.
And, according the the original script written in 1996, it will take place in 1917-1933, which is definitely better than that stupid "Godzilla" flop, trying to modernize it.
I remember when "The Frighteners" came out. I never saw it, but at the time I remember thinking that it looked cool from an effects standpoint. I'm not sure if Weta Workshop had formed at the time, but I wouldn't be surprised if they had worked on it.