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Better a wait that's too long, than a rushed final product.
I think they should reboot the series on the PS4 when it's released. I also believe they could be working on that now. Sony make the PS4 and Naughty Dog is a sony company. So Naughty Dog would have some insight into what the PS4 system is like and would be making a game around that.
I also believe the Reboot should be Drake hanging up his boots. At the start of the game, they should show Drake and Elena settling down and getting married with Sully being the best man. They have a child and it shows in some cinematic cut-scenes the training of the child.
Then Drake can be what Sully is basically to him. An old adventurer who helps out the Young Drake. Sully can retire and rest in this new trilogy. However, there can be some missions with him like using him as transport (e.g his new sea plane.) I think that could be where the series is going.
Or they could make a prequel and base the game off where Drake is a teenager. I loved the mission in Uncharted 3 when he was a teenager. Perhaps they could make a game between that mission and Uncharted 1 when he's growing up?