I heard quite a while ago that they were doing working on such project, based in part on E.B. Sledge's "With the Old Breed", but hadn't heard of any progress on it. Apparently, it's coming out in 2009!
I just read that for the first time last year, on the suggestion of a Freeper. I am well read on WWII, but that book was a real testament to the absolute inhuman brutality of the Pacific War.
I had always thought someone would make something about the Pacific War, but I was disappointed with "Flags of Our Fathers", REALLY disappointed by "The Thin Red Line" and appalled by the absolute butcher job on "Pearl Harbor".