I'd like to start off by explaining that I am a long standing fan of Disney's cult-classic series; Gargoyles. I was five years old when I first became interested in the story and it's characters, and looking back on it I may have been the only one among my friends watching it at the time. And now as I have matured, I find myself enjoying the series much more because I better understand the writing and progress.
In my observations of discussion boards, forums and fan-art postings, I've noticed that most fans have been disappointed that they have yet to see the release of a live-action film based on Gargoyles. And while a live-action adaptation of one of my old favourites would excite me, I'm kind of glad they haven't tried it yet.
First off, over the past several years I've seen a number of adaptations of comic books, video games and TV series' that happened to be notable disappointments towards longtime fans. I've also noticed that in live-action films featuring CGI characters, humans tend to get most of the screen-time. And even if the gargoyles themselves were portrayed using heavy make-ups and prosthetics, it could prove rather time consuming and very expensive to use in most scenes. Think of this: Elisa Maza's a great character, I know, but do you really want her to steal the show from Goliath?
Another important detail to consider is that the gargoyle body turns to stone at sunrise. The pose they'll take is often indeterminate. To keep the story believable, a props department would have to carve as many as three stone versions of each gargoyle character. Again, time consuming and very expensive.
So while I understand how thrilled my fellow-fans would be to watch a live action production of Gargoyles; I think we need to keep in mind that Hollywood, isn't quite ready yet. It could be more worthwhile to wait patiently until the right director and production company took hold of it, or risk massive fan disappointment.
There is something that could likely be done for the series sooner. Fans of the franchise would be aware that in 2014, Gargoyles will have reached it's twentieth anniversary. And I feel that we should plan something. A poster collection. An online comic. Maybe even a Calendar. (Demons as Miss October. Elisa as Miss 4th of July.)

Movie producers don't always pay enough attention. But fans would likely do it justice.

Break the spell! And Live Again!