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I'd love to see Brian Lumley's Necroscope trilogy made into a series of movies. For anybody who hasn't read them, it's about a parallel world that is about vampires on the dark side of the world, and humans on the side that gets some daylight, and our planet's vampire legends come from a heavily guarded portal between the two worlds located in Russia. Think the sentinel meets lord of the rings meets hellraiser.
I'd also love to see Legend by David Gemmel turned into a movie. It's a blatant rip-off of Conan the barbarian, but different. The protaganist is Druss who became famous as a warrior, but is now an old man off to fight in what he knows is his last battle. Perhaps the world doesn't need another sword and sorcery movie, but the plot of Legend is far better than anything done so far, and Druss is a much more believable hero than Conan ever was.