Though it may seem like a distant memory, a forgotten relic of the 1990s and laughable portent of big-budget studio epics gone awry, few remember that Kevin Costner's post-apocalyptic 'Waterworld' was considered ambitious in its time. Nearly 20 years later, could it be time for a return to 'Waterworld'? New reports suggest that Syfy could look to the forgotten franchise for a new TV series, or even feature film, but could the prospect ever find dry land?

It never ceases to amaze that a film that seemed on paper a money-making amalgam of 'The Road Warrior' and the sea could end up a water-logged, $235 million mess, and cautionary tale for filmmakers everywhere. Still, the time and development strategies in the 17 years since 'Waterworld' may just have turned that prospect around.

According to Forbes Magazine, Syfy has their eye on reviving 'Waterworld' as an ongoing TV series, considering re-broadcasts of the legendary film still bring in about 400,000 viewers per showing. Syfy has also been looking for a foothold into developing theatrical feature films, though it's more likely 'Waterworld' would stick to the small screen if network president Dave Howe moved forward with the idea, which he claims the studio has "talked about endlessly."

What say you? Do you think enough time has passed for 'Waterworld' to work as an ongoing series? Would a reduced budget hurt the idea, or could computer graphics pick up the slack? Give us your thoughts on a 'Waterworld' TV series in the comments!

Watch the 'Waterworld' Trailer