"Okay, George. So the main bad guy is a billowing cloud of black smoke and Luke has to defeat him by running around the corner and sticking a plug in the ground."
"Fine, but only if Jar-Jar's kids are in it. One of them can be a Jedi with dual-wielding lightsabres which he comically uses to smash up the scenery whenever the pace slackens."
Abrams had previously ruled himself out of contention, citing both his commitment to the new Star Trek movies for Paramount (Abrams's second Star Trek movie, Into Darkness, is out this year) and his overwhelming fandom of the Star Wars franchise preventing him from approaching a new film with the necessary detachment. Clearly these issues have been overcome, with Abrams agreeing to produce a potential third Star Trek movie (as well as being on board for a fifth Mission: Impossible film).
Star Wars Episode VII will be released in 2015 (possibly May). Michael Arndt is writing the script, with Lawrence Kasdan and Simon Kinberg co-producing.
Colour me cautiously optimistic. Although I have strong problems with Abrams's Star Trek work (so far), I enjoyed his work on Lost (though Abrams's involvement after the first season was limited) and Cloverfield, which he produced. Star Wars, if done right, could also be a better match for his skills.