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Tim Allen and Tom Hanks both said no to the project only because (at that time) Pixar would not be involved. Now that they are, the actors may sign on. Tim already has a contract with Walt Disney Pictures so getting him might not be so difficult (especially after making The Shaggy Dog 2006).
I'm not particularly happy that Disney is pumping out another sequel but as I stated previously, I'd rather see Pixar work on the movie than Disney alone. One thing I like about Pixar's idea for the movie is that it would end the series, so at least it would give some hope that there won't be any additional sequels to Toy Story (though I can't speak for the rest of the Pixar movies).
Personally, I hate Toy Story, and I find that quite funny cause it was the only movie created by both Pixar and Disney, while the rest were just Pixar.
What concerns me about Pixar is the amount of work Disney is expecting of them. I read somewhere that Disney is expecting Pixar to produce at least 2 animated movies each year. The quality of their movies might take a nose dive.
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