Well, someone had to do it eventually. Seeing that any other Pynchon book is unfilmable, and the high profile he has as a writer, it's the safest pick and PTA may just be the man to do it. It's definitely Pynchon's slightest work, his 'Ladykillers' or 'Cruelty', if you will- just a genius artist blowing off some steam and having some fun. And while it's middling Pynchon, it still got enough great stuff in there to turn into a great movie.
I'm still waiting for the nut to attempt a miniseries steampunk adaptation of Against The Day, though. Hey, man can dream, can't I.