Can Luhrmann deliver a truly great Gatsby?

After 85 years we are still waiting for a decent film of F Scott Fitzgerald's peerless The Great Gatsby. The 1926 silent version has vanished. The 1949 adaptation, starring Alan Ladd, suffered from acute genre confusion. Jack Clayton's 1974 extravaganza, starring Robert Redford and Mia Farrow, looked too much like a soft-focus Flakeadvertisement.

Now it emerges that, after a longer gestation than that royal wedding, Baz Luhrmann’s take on the book is about to grind into action. Leonardo DiCaprio is set to play the unreliable social climber and Carey Mulligan has secured the role of Daisy, the dangerous socialite he idolises.

Luhrmann’s musings on the news do contain a few puzzling caveats.

“There are a few elements that I feel need to be resolved before I would categorically state that this is my next film,” Mr Fabulous said. “Regarding the role of Daisy Buchanan, I was privileged to explore the character with some of the world’s most talented actresses, each one bringing their own particular interpretation, all of which were legitimate and exciting.

"However, specific to this particular production of T he Great Gatsby,I was thrilled to pick up the phone an hour ago to the young Oscar-nominated British actress Carey Mulligan and say to her: 'Hello, Daisy Buchanan'."

Scarlett Johansson, Natalie Portman, Michelle Williams and Keira Knightley were all rumoured to be up for the role.