Up Retells Don Quixote? [Updated]

Upcoming Pixar reader Joe points to Up’s Wikipedia entry which has some new information about the film which does seem to have that ring of truth to it. The entry tells us:

Insider sources say this new film is a re-telling, somewhat, of the classic Don Quixote fable.

Joe adds, "Disney has tried forever to make an animated movie based on Don Quixote, maybe this is John Lassetter’s way of realizing one of Walt’s unfulfilled dream projects?".

Since it’s Wikipedia, we can’t easily judge its authenticity nor its accuracy, however, what do you think? Thanks Joe.

UPDATE: I’ve decided to add some more information to add credence to this piece of information. From TIME Magazine, we know this about Up:

"Pete Docter and co-director Bob Peterson are preparing this "coming-of-old-age story" about a seventysomething guy who lives in a house that "looks like your grand-parents’ house smelled." He befriends a clueless young Wilderness Ranger and gets into lots of alter kocker altercations. Says Pixar: "Our hero travels the globe, fights beasts and villains and eats dinner at 3:30 in the afternoon."

And About.com provides this brief synopsis:

The title character, a middle-aged gentleman from the La Mancha region of Spain, becomes enchanted with the idea of chivalry and decides to seek adventure. Eventually, he is accompanied by a sidekick, Sancho Panza. With a dilapidated horse and equipment, together they seek glory, adventure, often in the honor of Dulcinea, Quijote’s love. Quijote doesn’t always act honorably, however, and neither do many of the other minor characters in the novel. Eventually Quijote is brought down to reality and dies shortly thereafter.

They are slightly similar, but it’s really too early to tell. Again, your thoughts?