Well, on the official conan.com forum, there's a listing for an independant crew having already progressed to post-production status of a new Conany mmmmmovie.
http://www.conan.com/invboard/index.php?showtopic=10704
With a budget of $2 million (I'm assuming USian dorra), it's likely to be a direct-to-DVD, and fairly short but there's hope as several people involved have lots of experience with action and music and production, so hopefully this will be a good sign of things to come!