Disney's KING OF THE ELVES moving forward with Michael Markowitz writing

Walt Disney Animation Studios has breathed new life into King of the Elves and has hired Michael Markowitz (Horrible Bosses) to pen the newest version of the script.  The film is an adaptation of a Philip K. Dick short story about "a band of elves and one dwarf living in the Mississippi Delta who tap a human as their king after he saves them from an evil troll." The project is being overseen by Chris Williams, co-director and writer of Bolt.

Elves was initially set for a 2012 release with Brother Bear's Aaron Blaise and Robert Walker, but when Pixar's John Lasseter took over animation in 2006 it went back into development. This project has been around since 2008, and was even unveiled alongside Wall-E as an upcoming film on the Disney schedule. This should be the next big film on the horizon for 2013 after Monsters University opens next summer. 

Markowitz has also written for TV, with shows like Becker, In-Laws, It's All Relative and Bob Patterson, on which he also served as a supervising producer. This sounds like an interesting film. I am interested in seeing what it looks. What are your thoughts?