Guillermo del Toro Offered Godzilla Reboot

Guillermo del Toro has made his love of all things monsters loud and clear over the years. In fact, I believe there's a quote from him stating if something he's developing doesn't have a monster in it, he won't direct the film. So why not helm a movie centered on the ultimate movie-monster of them all?
Latino Review reports Legendary Pictures has thrown him an offer to helm their planned Godzilla reboot. If del Toro were to give the "thumbs up," he would help in retooling Pacific Rim (a sci-fi pitch purchased by the studio months back) as the basis for the Godzilla update.
Throwing a monkey-wrench in the deal is del Toro's current commitment to his dream project At the Mountains of Madness (set up over at Universal with James Cameron producing) and Legendary's desire to get this ready by 2012. So either he'll have to graciously decline or the studio will push its release back a year or so in order to net him.
If all parties come to an agreement, a Guillermo del Toro-directed Godzilla reboot would be something fans would eat up.