"I've moved on creatively from The Terminator, so I'm not really interested in that imagery and even those ideas anymore—and I'm not sure the world is that interested either. It's run its course, I feel."
As evidence of this, he points to this summer's disappointing Terminator Salvation, which attempted to continue the series without Arnold Schwarzenegger.
"His persona was part of The Terminator, and when you uncouple those, you get Terminator Salvation, which is actually a fine film from a pure filmmaking standpoint—it just doesn't gel up into anything mind-blowing."
Some additional comments from a recent interview with Total Film
TF: What did you make of Terminator Salvation?
JC: It didn't quite have the emotional power that it should have had.I thought Sam [Worthington] was great, very powerful, and Christian [Bale]...people have criticised him for being one-note but that's part of the character.He was playing a guy who's furiously deicated to the survival of the human species.Maybe more could have been done with that.In T2 we showed the consequences.It drove Sarah insane.
TF: Was McG the man for the job?
JC: McG's a strong shooter and he honoured the iconic touchstones of the first two movies-almost too much so.I actually felt Salvation is like Aliens, in that it's a fan making a sequel to a movie they loved.
Sources: Sci Fi Wire/The Toronto Sun/Total Film #162 (King of the World: The Complete Works of James Cameron)