I think without the Hollywood pressure of doing a big screen epic this production might be much more interesting to watch:
Wallace and Gromit return to TV
"Wallace and Gromit are to return in a half-hour television adventure - the first since 1995's A Close Shave. Aardman Animations has announced that the cheese-loving inventor and his loyal dog will star in Trouble at' Mill - to screen on BBC One in late 2008. Creator Nick Park said: "The story takes Wallace and Gromit in a direction we haven't seen before - both emotionally and technically."
Shooting starts in January at Aardman studios in Bristol. Trouble at' Mill is a murder mystery that sees Wallace and Gromit running a bakery business - with their house converted into a granary with ovens and robotic kneading arms."
...also check out this great gallery showing Wallace and Gromit pre-production sketches.