We’ve already heard Vin Diesel as a possible Terminator, and now the latest rumor has Paul Walker, Diesel’s co-star in “Fast Five” (which was also directed by “Terminator” golden boy Justin Lin, set to direct “Terminator 5″), as being up for a younger Kyle Reese in the rebooted/prequel/whatever.

From What’s Playing, who also adds some details about the film’s potential storyline:

From the sounds of things, [Arnold Schwarzenegger] does have a fairly substantial role in the new story – which is said to involve that original timeline being torn, again – but this Terminator would mostly be anchored by a new, younger male lead (Paul Walker’s name keeps coming up – could he possibly be Lin’s pick for Kyle Reese?). Oh, and I think that’s where the rumors of the ‘original cast returning’ come into play – though it’s not so much the original cast as it is ‘the original characters’ from the original movie. Geddit? Like J.J’s Star Trek. What may happen, I’m told, is the creative crew might lessen Schwarzenegger’s screentime in this movie, so it’s less work and less of a commitment for him and thus, it’ll be easier to talk the big guy into doing something this year – - as opposed to whatever year he feels he’s ready to return to acting.

Lots of rumors, but not a lot of facts. The only thing for sure is that Justin Lin is keen on doing a “Termiantor” movie, and he’s pretty hot right now, so the studio better get this thing up and running before he moves on to something else.