Just heard about this yesterday and It's undeniably awesome news.
Avatar was without a doubt one of Nick's best animations to date if not THE BEST, so I'm glad the creators are getting another shot to work their magic again with a completely different plot and characters.
Not saying the old characters are bad in any way but I think the finale did a phenomenal job of wrapping up everyone's stories, give or take a missing mother or two. Besides that I felt the story was complete.
A large time skip which will show just how much the world has changed after the peace treaty and all of the new plot elements sound extremely promising, the anti-bending faction in-particular. I can not wait for the series to come back.
Manga reading list: Bleach, Naruto, Katekyo Hitman Reborn, One Piece, Code Breaker, Gamaran, Kuroko No Basket, Fairy Tail, The World God Only Knows, Kimi No Iru Machi, Good Ending, Medaka Box, Nisekoi, D.Gray-Man, Ao No Exorcist, Freezing, Magi - Labyrinth of Magic, Soul Eater, Rosario Vampire Season II, Iris Zero, Ubell Blatt, Bloody Cross, Sun-Ken Rock, and Infinite Stratos,
but for the 4th season, i wanted to see
1 aang to start a new air bender tribe
2 Zuko to look for and find his mother
3 toph and katara to fight rebel fire nation that are trying to bring back there old ways
but i will watch (avatar: the legend of korra) just to see if i will like it are not
I don't want to see a sequel. Sequels fail too often and Avatar ended alright enough. A brand new cast with a more advanced world and a glimpse of the past is going to make the show great. It's kinda like Gundam, in terms of...the same franchise but a different story.