We’ve talked about (a new Phantasm), and we’ve gone out and screwed around with cameras for it. We’ve asked ourselves “How would we do this if we were to do this." - Reggie BannisterYou can read the full interview here.
Also worth mentioning is a new boxset from Universal Studios that includes Phantasm II along with The Funhouse, The Serpent and the Rainbow and Sssssss. While Amazon is selling it for an economical $7.49, my local Wal-Mart had it for a mere $5.