Good morning Mike,
I have to admit that I am mildly disappointed to hear that Terminator Four is being produced, mainly because I was very disappointed that Terminator Three was produced.
I enjoyed the first two Terminator movies, I think they are fantastic, but that's where the story should have ended. Terminator Two wrapped up the story quite nicely, and apart from not being a particularly good movie in my opinion, the way the writers tried to make the story flow in to Terminator Three seemed just a bit strenuous. I was hoping that the producers would realise how silly the idea of making the third movie was and not bother to complete the story with a fourth movie.
And apart from that, how can you possibly create a Terminator movie without Arnold Schwarzenegger?
As far as I'm concerned there will only ever be two Terminator movies. The third and subsequent versions do not exist for me.