A remake on the other hand is inevitable. But it will be another remake that doesn't make any money. None of the Phantasm flicks ever made any money, so it's not like a remake would be a blockbuster. It would come and go. There's really no point., except for the fact it would still make some money on dvd because of the title.
The remake issue with Phantasm is dead last I heard. Don was in talks with New Line for a Phantasm trilogy, but backed out of it because he realized that they would make it suck instead of making it be good.
The death of Phantasm: 1999 is one of the great tragedies of horror cinema.