Speaking with Empire Online, Stallone says he thinks the franchise is "pretty well done". He then goes on to say...
"I was going to do it…I said I’d never talk about this, but with I feel that with Rocky Balboa, that character came complete circle. He went home. But for Rambo to go on another adventure might be, I think, misinterpreted as a mercenary gesture and not necessary. I don’t want that to happen…I’m very happy with the last Burmese episode, because I didn’t pull any punches on it."
If by "didn't pull any punches" he means having guys get blown to smithereens or having their limbs systematically shot off by hails of chaingun fire that would make Jesse Ventura hide, then I definitely agree. It lacked the depth of the other First Blood films, opting for absurd levels of violence that was probably a touch too realistic. It came off as comedy after the shock of it faded. But it was fun, and I'm actually a little sad to see Rambo go. Stallone revealed that a director's cut of the film is being prepared as we speak, with an additional 10 minutes of footage. That's atleast another 40 guys getting their ankles blown into the Burmese jungle.
