"For the first time since 1989, Harrison Ford dons the familiar costume on Thursday, June 21, 2007, as the upcoming Indiana Jones adventure begins production under the direction of Steven Spielberg. The new Indiana Jones movie is set in the 1950s and stars Shia LaBeouf, Cate Blanchett, John Hurt, Ray Winstone and Jim Broadbent. The Lucasfilm Ltd. production will be released by Paramount Pictures worldwide on May 22, 2008.
Of course not! That would be blasphemous! No one can play Henry Sr. except Sean Connery!
Unfortunately, Sean's enjoying his retirement too much now so he has publicly stated that he would not be reprising the role. John Hurt's role in Indy IV is still very much speculated amongst Indy fans. Some say he'll be starring as Albert Einstein, while others say he will be Abner Ravenwood. I hope it will be the latter.