There's an interview in this month's Rue Morgue about Drag Me to Hell; where they talk about the special effects and how most of the movie is traditional effects instead of CGI. The interviewer asks the question about Evil Dead 4 to the special effects artist Greg Nicotero:
Are you planning on helping him acheive that noble goal yet again for Evil Dead 4? I know Ivan's been writing...
I met Bruce Campbell back in 2005 and specially asked him about Evil Dead 4; his response wasn't too optimistic about playing a major role. I still want to see it made, and I still want Bruce in it somehow.Quoting Nicotero