According to an insider report on Cinescape Online, the screenplay for the Speed Racer movie has been completed and will be turned in this week.  The long gestating live action Speed Racer film, which was once almost a 'go' with Johnny Depp in the lead role, may finally be on track. 

Vince Vaughn is still committed to play Racer X (see 'Warner Bros. Revs Up Speed Racer') and the new film, which reportedly has four major racing sequences, is approaching the starting line.  The Speed Racer film is now closer to becoming reality than at anytime since the plug was pulled on the Johnny Depp version. Look for more casting announcements during the next few months -- but if nothing is forthcoming from Warners it means that the Mach 5 is racing back to 'development hell.'