I agree that a good story/script is what is most needed. Anyone can do special effects and explosions and superhero bullshit. The script will, however, suck because the country in general and Hollywood in particular is tremendously confused about masculinity and strength and many of the themes that made the first movie great.
They could make a really really great movie if someone had some understanding of how and why the Conan character resonates in the psyche of the American male of a certain age. They could have themes of strength, success through effort and hard work, and fatherhood. All things present in the first movie. They could have Conan mulling over deeper and deeper understandings of The Riddle of Steel. They could explain exactly why in his older years Conan came to wear the jeweled crown of Aqulilonia upon a troubled brow because he came to a fuller and more mature understanding of war and fighting and it's unfortunate necessity in the brutal world, especially what with all the war fatigue after the Iraq thing.
Instead, they'll make some stupid superhero type action pic a lot less well done than something like the Avengers or Captain America. They'll puss out just like they did with the remake of Red Dawn.
What is steel compared to the hand that weilds it?