He Who Plays wrote...
If they make a movie about Commander Shepard, that would kill the entire series. I am sorry if someone already said this, but I do not feel like reading almost 30 pages of comments. People would not be able to enjoy the story if it conflict with their image of the Mass Effect universe. As long as the movie would be well made, something well defined and unambiguous like the First Contact War could be a good story line. It would require less aliens than a story about the humans at a future time would likely. However, that is not to say that people do not want to see aliens. I have felt that the books that have already been written could make great movies. Most fans would agree that they would like to see what Kahlee Sanders looks like, or a younger Captain Anderson.
I could see such awesome drama with that, in a not so far off future. I'd picture something sort of like District 9.. But that's probably a dream that won't happen. There's a lot to the story of Mass Effect it'd be kind of shame to just base it on the game and not go beyond it. Also if they started at the beginning of when humanity discovered their first Prothean artifact and go from there, you could easily make a trilogy without ever touching Shep.
Make new central characters!

Will there be more novels? I really liked the first one, still have to pick up the second.