I remember seeing that concept art years ago and getting pumped, but yeah I'm pretty sure the film rights reverted to Konami even before MercurySteam got their hands on the franchise. I wonder if the live action movie is still gonna come out eventually. I hope not. Apparently the last guy they had attached to direct it made "Saw" and is now making "Fast & Furious 7" (which will no doubt be a classic to stand for all time) and before that it was the fellow behind those awful "Resident Evil" movies.
We're better of with what we do have, all of those movies that inspired Castlevania. The respective Universal and Hammer Studios canons, Vampire Hunter D and others.