Kelsey Grammer will play Beast; Angel and Kitty Pryde to be announced soon. Vinnie Jones plays Juggernaut. They are looking at a Memorial Day 2006 release. They aren't giving story details.
HOWEVER, they do say Famke Janssen will be in this movie. Who, you say? Look at their IMDB entry and all will be made clear...and give away a teensy bit of the story. :)
I only hope the movie doesn't slow down or suffer by having to introduce Beast, Angel, and Kitty.