According to industry newspaper Daily Variety, the film - set for release in 2008 - will focus on the early days of Captain James T Kirk and Mr Spock.
The as-yet-untitled feature will tell of their first meeting at Starfleet Academy and first outer space mission.
Not wanting to get all fanboy, but eeek.... William Shatner and Leonard Nimoy are too old for the roles, and replacing actors is always a bad idea. Personally, I wanted some sort of Deep Space Nine spin-off... perhaps Sisko's return... or perhaps even better yet, some sort of harking back to the two best moments in Star Trek past: the Dominion War in DS9's final seasons or the Borg (particularly First Contact). But going back to The Original Series is just a bad idea, a George Lucas bad idea. After all, anything created now will look so much more aesthetically pleasing, particularly ship design. A good Star Trek movie should be accessible to all, newcomers and Trekkies alike.
UPDATED!
Seems that is the basic premise :-\ Oh, and I just found out that George Takei (Ensign Sulu) came out this or last year. Good for him! If he were single he could get any man he wanted with those dulcet tones...