I'd be more up for a 2-3 hour movie than another 18 hour series, honestly. There was a lot of chaff and bullshit mixed in with good stuff this season, and not just 'this is boring' but like 'this is actually pissing me off' kind of bad - the sheer brutality against women at times, that scene where gordon is admiring the french woman leaving, audrey's stuff except for the last minute of it - and I'm sure some of that would be the first on the chopping block
Also, if he's going to make more film stuff, why not something entirely new? This season basically killed off all but the die hard David Lynch/arthouse fans anyway. I'd be surprised if there were more than a few Peaks-only casual fans left standing by the end of it. A lot of this had very little to do with Twin Peaks at all, so why not be free and not have to tie in meandering ideas to an existing world/mythology?
Then again, I really don't mind. Like I said in a previous post, I've kind of had everything I need out of David Lynch with this last gargantuan piece of work.