As I said awhile back in my piece detailing the status of several "In Development" sequels to Summer 2009 tentpoles (along with the audio article I did with Peter), I can't see McG returning to direct Terminator 5 - especially considering the time-table with him directing Disney's 20,000 Leagues Under the Sea: Captain Nemo for Christmas 2010.
Nonetheless, McG maintains he will return to the director's chair and is already discussing what we might see in said Terminator follow-up. He revealed recently to Film Journal that time-travel will play a factor in the forthcoming fifth installment which will be conveniently set in a "pre-Judgment Day" 2011 - the year that Warner Brothers plans on releasing said film.
As the We Are Marshall director elaborates:
"John Connor is going to travel back in time and he's going to have to galvanize the militaries of the world for an impending Skynet invasion. They've figured out time travel to the degree where they can send more than one naked entity."
Eh, can't say I'm nuts about revisiting time-travel for the fourth time now (!?!) in this franchise. Not to mention, Warner Brothers has done a damn-fine job at selling Salvation as the "Terminator film we've all been waiting to see" - i.e. set entirely in a post-Judgement Day world. Don't know if it'd be the best idea to go "back to the tried and true formula" - especially if Salvation clicks with audiences the way many believe.
To be fair, I don't know what McG and Jonah Nolan have specifically cooked up and maybe it'll be something worthwhile. But just from the sounds of things, wouldn't surprise me if this was covering ground already treaded upon by J.J. Abrams' Star Trek - i.e. new continuity established because of time-travel tinkering. Meh.
And a special shout-out to TMT poster (and our pal) dark_b for doctoring up the quiet-awesome picture for this article.