Supposedly there were plans for a new Warner Bros. film years back, but I've heard nothing since. Taurus' CREEPSHOW 4 never happened. CREEPSHOW RAW didn't last.
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I don't really remember Creepshow III very well. I remember it being pretty cheap. It was okay enough as a direct-to-DVD film, but not very good as a sequel. That being said, I would love another Creepshow movie in the same spirit as the first two. Horror movies aren't very much fun anymore. They are all so dark and serious so a movie that brought back the fun to horror would be nice.
Death lives in the Vault of Horror!