I have heard everything.. From the movie being set in Jerusalem (Following AC1's storyline) to Rome (AC2's storyline).. Movie's coming out in 2015, filming has started, script being re-written for the umpteenth time and even Robert Downey Jr being cast as Leonardo da Vinci etc etc.
Some of these came from reliable news sites while others were from fan groups with no concrete sources.
The one constant was however Michael Fassbender's role in the movie.
Recently, however.. there seems to be some concrete info on the movie's details, with Gamespot's article and even IMDB updating their site with the following synopsis..
"Convicted felon Michael Lynch is recruited by a company called "Abstergo" to explore the mind of his ancestor in order to recover a sacred artifact."
Whether they have replaced Desmond Miles' name & origins, or is Michael Lynch a new "Subject" remains to be seen.
The movie is dated for a release date for Dec 21 2016, which gives some hope that the movie has finally been scheduled and will not be following in the footsteps of other game movies like God of War, Mortal Kombat and inFamous.
With so many videogame-based movies not doing well, there is definitely huge pressure on this project, especially with Ubisoft's other title, Prince of Persia not meeting up to expectations. (Boohoo!!!).
In this current gaming generation, I can't think of a bigger gaming franchise than Assassin's Creed. If this doesn't do well, I seriously doubt any other video game franchise can do better.