Del Toro, as many know, was slated to direct The Hobbit, but has left the project recently due to the amount of time pre-production is taking. This could be a blessing for some of us, especially since it looks like the next project Del Toro may take on is his oft rumoured version of H.P. Lovecraft's At the Mountains of Madness.
This is probably one of the most complex of Lovecraft's short novels. A great deal of the book concerns itself with the minutiae of Arctic exploration-- what drills these scientists are bringing, what modes of transportation they're taking, their myriad specialties and roles within the group--but this is really just part of Lovecraft's cleverness in telling this kind of story. It's all a set-up, a staunchly realistic narrative that serves to lull the reader into the comfortability of the real, because when this story gets unreal, it goes for broke.
If done correctly, and we've seen nothing but good evidence that Del Toro intends to do the original story justice, then this could be one of those tentpole horror movies. We're already used to the set-up, a small group of people secluded in an isolated and desolate locale, are beset upon by some weird horror. Except this time the horror is something that we've never yet seen in film.
If you want spoilers, read the book.
Back in 2006 Del Toro had this to say concerning Mountains: "