I agree that he's changed since Goodfellas. And there's a reason. After that film everybody jerked him off as the best American director. Obviously, it got to his head. But I think these were always the films he WANTED to make. He's even said that. He said he always wanted to make widescreen epics, but because he started off doing small, gritty films he had no track record and couldn't get them made. Even when he tried to return to his roots with Bringing Out the Dead, it didn't work. He's too removed from that world at this point. He's rich. Doesn't have to struggle. And that New York doesn't exist anymore either.
I think his earlier films were better. I think because he started off doing more improvisational work, as he tried to move into epic territory his story and structure sensibilities were inconsistent. Polished epics require precise plotting, and that's never been his specialty. So the films looked lush, but didn't work dramatically.
That said, if he can bring his visual approach to a well-crafted script (though it looks a bit like Tucker: The Man and His Dream), it just might work. It won't be pure M.S., but it'll bridge the gap between style and substance.