As you probably know by now, it was announced Tuesday that Star Wars - Episode VII was placed under pre-production status after Disney bought George Lucas' LucasFilm for just over $4 billion. Some big names in film (and notable Star Wars fans) weighed in on the big news.

[Jon] Favreau, director of the first two Iron Man films, said Tuesday that he’s got no more insight than anyone else. But, like his fortysomething filmmaker peerage, his spectacle films are still rooted in the experience of seeing the 1977 film again and again as a wide-eyed 10-year-old. The young fan in him still has a deep desire to see the beloved saga of his youth reach new heights.

“The idea of another trilogy that further shrouds the Force in mystery as its secrets are lost to time – that’s extremely compelling,” Favreau said. “I want so bad for it to be good. Can you imagine?”