It’s happening, apparently:

I’m trying to picture Spacey as Richard III. In everything I’ve seen him do, he’s quiet and calm. Oh, he can do creepy very, very well. Remeber his character in Se7en? ::shudder:: But Richard III is a shouter, over the top, angry. Or at least, that’s the way he’s usually done. I wonder how Spacey will handle this. Is he going to bring that cold chill to Richard? Or does he have more range than I’m aware of? What do you guys think?