Well, rats: Connery won’t be reprising his role as Indy’s dad in Indiana Jones IV after all. Sir Sean issued the disappointing news in a classy statement, at least:

“I get asked the question so often, I thought it best to make an announcement. I thought long and hard about it and if anything could have pulled me out of retirement it would have been an Indiana Jones film. I love working with Steven and George, and it goes without saying that it is an honor to have Harrison as my son. But in the end, retirement is just too damned much fun. I, do however, have one bit of advice for Junior: Demand that the critters be digital, the cliffs be low, and for goodness sake keep that whip by your side at all times in case you need to escape from the stunt coordinator! This is a remarkable cast, and I can only say, ‘Break a leg, everyone.’ I’ll see you on May 22, 2008, at the theater!”

I’m not troubled by the idea of Henry not appearing in this new Indy movie — his character arc was pretty thoroughly finished by the end of Last Crusade — but it now looks definite that the bleeding-from-the-eyes-awful League of Extraordinary Gentlemen is going to be the final title on Connery’s filmography, and that, my friends, is an unbelievable tragedy.
The article I linked above also mentions that Cate Blanchett, Ray Winstone, and John Hurt are in the movie — this is seconded on the official Lucasfilm Indy site here — and that rumors that Karen Allen, Kate Capshaw, or both might be on board for a cameo remain unconfirmed one way or the other. (Personally, I’m rooting for at least a glimpse of Allen’s Marion, the most logical “Indy girl” for our hero to have had a son with… assuming that Shia LaBouef is actually playing Henry Jones III, that is.)

In other Indy IV news, I’ve heard that John Rhys-Davies, a.k.a. Indy’s favorite Egyptian digger and loyal sidekick Sallah, won’t be coming back either, but depending on what Indy IV is actually about, his character might not fit into this particular story or setting, so I’m okay with his absence…