According to TheArnoldFans.com, Arnold Schwarzenegger is looking into three different possible movie roles as he takes the plunge back into movies. The site provides the translation of The Terminator's interview with Krone.at.
"Currently I'm reading three scripts. One topic/script, which I considered a long time ago before governor, is delighting me particularly. In it I would play an older [German] soldier, who gets the order at the ending of the war to kill a bunch of kids. But he doesn't do it and get them to safety at the risk of his life and it has all kind of adventure. This script is based on a true story!"
The movie he is describing is With Wings as Eagles written by Randall Wallace (We Were Soldiers). No word on the other two scripts.