That blows if they tamper with the original storyline to make it contemporary. You didn't see that with both Narnia and Harry Potter. This is one of the greatest fantasy and children's books ever written. They shouldn't mess with it.
Look at what happened to Ursula Le Guin's Earthsea books. It was a disaster!
The only plus in this whole project seems to be Christopher Eccleston. Great actor - great as Doctor Who but even better as villain.