To be honest, I would worry that if the Abe Saga were a television series, it wouldn't get the attention it deserved. I want to see that ugly mug on the silver screen as much as anybody, but if it's done poorly, that could be worse than if there hadn't been any money invested in the project. It could also be worse for Oddworld's image. Rushed CG and lack of plot can kill a really great idea; look at Game Over. I want them to take the Oddysee's and Exoddus's and craft beautiful, well-thought-out, cinematic movies that do the story the justice is deserves. Anything less wouldn't be living up to its potential, I think, unless you did a limited miniseries. Still, I would rather see Abe's Oddysee coming to a theatre near me.
In terms of comics, anything could be done, really. I should hope that the Big LL decides to go ahead and tell the rest of the quintology in the form it was meant to be in (games), and then movies, but if for some reason niehter of those is possible at all, I want to see the story told somehow. Comics and novels would be a good alternative way of doing that.
Right now I'm working with some people on a little fanfiction comic series called Slogmeat, hopefully to be released soon. Unfortunately, we can't get a hold of anybody to make sure we aren't violating any copywrites, but since we're going to attribute all races and so on to Oddworld Inhabitants and there will be no selling involved, I would imagine they wouldn't have a problem with it. We have to occupy ourselves somehow while they do whatever it is they're doing in their hidey-holes.

*imagines Lanning in the Bat Cave somewhere or something*
Oh yes, and toys. I must mention toys, even though this thread didn't specifically ask anything about em. I want them. I should hope that a movie would be a good chance for them to FINALLY release some Oddworld merchandise that I don't have to scrounge around eBay to find. The OW concept art book was a fantastic thing for them; I want to have figures, along with anything else, really. Posable would be best, because then you can get way more versatility from one toy. If they released a generic mudokon eventually, for example, you could buy several of him, and just have a bunch of them doing different things, walking in a row, whatever it is you'd like, as opposed to statues. (Statues would be cool, too, but I want me a posable Abe.) I don't think there would be any worry about Oddworld becoming known only for its merchandise, or merchandising too much, either, because plenty of video games now have toys out. A movie would be a perfect opportunity to remind people of what Oddworld is, and it would give both us old fans a chance to buy them and for new fans to discover Oddworld, also. I'm not a toy collector, but I would be ALL OVER those. Really. Oddworld toys please. I would buy them. Lots.
And that's the end of my Rant of the Month.