By Mandi Bierly
Updated March 24, 2010 at 03:53 PM EDT

Image Credit: Albert L. Ortega/PR PhotosAccording to Variety, Will Smith is currently debating which film to do next: Men in Black III or The City That Sailed. It’s an interesting dilemma: The Men in Black franchise has proven box office power (grossing more than $1 billion worldwide) and should attract big-name talent even if it feels like an unnecessary blast from the past, while The City That Sailed is a family film that Smith’s production company has developed that sounds intriguing but risky. According to the trade, the script, from The Truman Show‘s Andrew Niccol, centers on a New York street magician whose young daughter moves to London, finds wish-granting magic candles, and must dream of her dad being closer because the island of Manhattan starts floating toward England. (I have no idea how people respond to that in what I assume is an otherwise realistic film, which is why it could go either way.)

What do you think? Does Smith bank on the familiar for his return to the big screen, where he hasn’t been since 2008? Or does he try something new? (For argument’s sake, let’s say there’s no role for son Jaden in The City That Sailed.)