I may actually go see it now. According to an Interview with one of the Co Writers Bob Oric in December the movie will takes place in an Alternate Reality since the main story revolves around, you guessed it, time travel.

So essentially they are rebooting a franchise in order to make more movies without…actually…well you know…rebooting the franchise.

Link to interview:
http://trekmovie.com/2008/12/11/bob-orci-explains-how-the-new-star-trek-movie-fits-with-trek-canon-and-real-science/

This movie will be awesome. You should read Star Trek countdown, it's a comic book prequel to the film.

No thanks. I am already pretty opposed to this movie to begin with. Finding out that it is an alternate reality, though a trite cliche, has releaved some issues I had…but I am still pretty opposed to the creation of this movie…

I really hope this movie will be better than I think it will be. I have a bad feeling that J.J. is doing what George Lucas did to the Star Wars franchise.

But I cannot doubt the almighty, God-like creator of Alias, Lost & Cloverfield!

Well in my book he had one strike against him for Lost…

It's not an alternate reality perse. It's time travel from Trek present day to Trek past which changes certain events from Trek past creating what you COULD call an alternate universe, but because of the fact that it utilises the concept of time in which everything works out in a similar vein, means everything else still happened.

so it's bassically the same idea as back to the future 2?

Alternate Reality, Alternate Timestreams…similiar names for the same thing

Though I still think this movie is going to be bad. I will still go see it with an open mind (I would have gone to see it whether it was main stream canon or not) after all I do love a good time travel story.

And for those of you confused as to what Sinister was talking about here is a quote from Bob Orci (the Co-Writer) located in the linked interview that may explain somethings:

"Yes. If you look at quantum mechanics and you learn about the fact that our most successful theory of science is quantum mechanics, and the fact that it deals with probabilities of events happening. And that the most probable events tend to happen more often and that one of the subsets of that theory is the many universe theory. Data said this , he summed up quantum mechanics as the theory that “all possibilities that can happen do happen” in a parallel universe. According to theory, there are going to be a much larger number of universes in which events are very closely related, because those are the most probable configurations of things. Inherent in quantum mechanics there is sort of reverse entropy, which is what you were trying to say, in which the universe does tend to want to order itself in a certain way. This is not something we are making up; this is something we researched, in terms of the physical theory. So yes, there is an element of the universe trying to hold itself together.

Man I love Technobabel