The timeline will be the same as the book! No exceptions! Or not...........

Okay, for real:
Opens in England. Use of train station. Maybe have Harold and Alberta pick up Edmund and Lucy and one of them can make some snide remarks about something. Lucy's bedroom, kids get pulled into picture.
Caspian pulls them out of the water. They learn about his quest to find the lords because they apparently have some way of stopping an "unfathomable fate". And Reep's quest to find Aslan's country.
On the way to the Lone Islands they find a small boat drifting in the water, in it is the MLG. And she tells them about how her mother was captured but they managed to get Gael out in a boat in time and away from the pirates or something like that (not very good, but doable).
Arrival at Lone Islands. Some of them get captured. Lucy and Caspian somehow manage to escape from Pug, but after being chased through Narrowhaven wind up in a bell tower where Gumpas shows up. While taking Lucy and Caspian to the slave hold, Bern buys Caspian. Back at the ship Caspian and co. organize a revolt of some kind with Bern and his friends. They crash the slave market the next day and free Lucy, Edmund, Eustace, Reepicheep, and Rhince(who was captured when MLG's mom was captured but they were separated). Then there's this battle at sea with Gumaps' pirates and at the end Gael and Rhince are reunited with Elaine(or Ellie or whatever her name is).
Sail to Deathwater, which is a long ways away. Far enough away that they hear legends of it in the Lone Islands but nobody goes to it. Caspian and Edmund quarrel, Aslan shows up, but Eustace doesn't see him.
Dufflepud Island. Pretty much the same except with bratty Eustace.
Storm at sea, ship is damaged.
Arrive at Burnt/Dragon Island. They find huts and Reep's coracle. Dragoning of Eustace. Since they don't know why the huts are burned they spend the night on the ship. Next morning DragonEustace shows up and they think he's attacking the ship. They decide it's too dangerous too stay even with the damage and so they sail away (you heard me, they leave Eustace on the island).
Fight with Sea Serpent. DragonEustace shows up and fights the Sea Serpent, thereby saving the day. They figure out it's Eustace and return to Dragon Island and the rest is like the book.
Ramandu's Island. They discover four sleepers(since I can't figure out how to get Dark Island in). Caspian sees Rd and the rest is history. Mutiny is threatened, but Caspian gets to give a great heroic speech. Please don't disillusion me; I like his speech.
Sweet waters. Reepicheep jumps in to challenge single combat to the Mer-king but discovers the water is sweet.
They go as far the ship can. Caspian tries to stay but is finally persuaded to go back(by Aslan of course). Edmund, Lucy, Eustace, and Reepicheep sail on. Caspian and co. return to Ramandu's Island. The sleepers are awake, the-I-hope-it-doesn't-actually-exist-unfathomable-fate is somehow stopped, Caspian marries RD, and they head home.
Edmund, Lucy, Eustace, and Reepicheep arrive at the wall of water. Reepicheep leaves after Lucy tries not to cry(after throwing away his sword of course). The other walks to where the Lamb is and it turns into Aslan. And the rest of the scene is just like the book.
They land on the floor next to Lucy's bed. Maybe have something happen later that day where Eustace can show how he's changed and then Alberta can say something about it being the influence of those Pevensie kids.
Okay, I'm done.

The movie begins.
Something similar to the book happens for the most part with some cinematic license taken regarding the introduction of new characters and scenes which some NarniaWebbers will like and others will freak out over.
The movie ends.

Oh. And the Duffers hop visibly and invisibly on that there island with Coriakin the Magician and Lucy reads his book.

VDT is a hit and The Silver Chair gets greenlit.

The previous, more serious posts were well thought out and possible. I am sorry I could not be as complete in my scenario. I could only deliver a post with a bit of levity in it. (It is all my tired brain could produce.)

Look forward to other, more complete timelines.

Predictions for VDT? Sounds fun! I'll take a crack at it!

*lets mind wander*

The opening scenes take place in our world and involve a train station (again) and somehow includes Peter dropping off Lu and Ed at the Scrubb's.

The Picture Sequence progresses basically the same as found in the book. Conversation between Ed and Lu, Eustace barges in, and they all get sucked into Narnia via the picture in the bedroom (hoping this turns out to be a very impressive transition!).

Caspian rescues them, overjoyed to see them... with the exception of Eustace. The audience, along with the Pevensie's and Scrubb, are briefed about the "mission," which entails finding the lost lords and (yuck) the "unfathomable fate." A clash between Eustace and Reep ensues sometime before they get to the Lone Islands, and hopefully will involve Reep getting swung around by his tail.

They land on the Lone Islands and are promptly captured by Pug. On the way to his ship/wherever he holds them (the dungeon, perhaps?), Caspian is bought by Lord Bern. After some conversation, Bern and Caspian have a brief duel in which Bern believes Caspian is king of Narnia. They begin to hatch a plot to free the others.
We are then taken to the slave market, where Lu, Ed, Eustace, and Reep are up for auction. Bern, Caspian, and some of Bern's "men" and/or some of the DT crew "sneak" into position for freeing our heroes... maybe where the bell tower comes into play? The market is abolished with only a brief skirmish, or preferably none at all, and Caspian and the rest march up to the governor's home to confront Gumpas.
Gumpas is confronted and overthrown... hopefully in much the same way as this takes place in the book. Then some kind of "the islanders bid the DT farewell with lots of cheering" thing takes place, and the DT is at sea again.

The next three islands could probably be done an any order, but since apparently Eustace's transformation takes place later in the film... I've arranged them like this, though I'd rather the order be Deathwater/Dragon, Duffers, then Dark.

Isle of the Duffers. Hopefully this will be the mysterious/odd/creepy/magical/fun island that it is in the book, and will follow the basic plotline of the book as well.

Next stop, Dragon/Deathwater Isle. Crew is on the beach stocking up on provisions/relaxing/whatever. Caspian, Ed, Lu, and Reep go off to explore the island and find the Deathwater pool. See the lord, figure out the pool, greed and pride affect the two kings, small sword "fight," perhaps along the lines of what happens after the Night Raid at PC, Aslan shows up and Caspian and Ed realize what idiots they have been, and everyone returns to beach where the crew of the DT is, and discover that Eustace is missing.
Eustace, who opted to stay behind and rest while the others went exploring, snuck off from the crew when he realized that they expected him to help in whatever they're doing. He gets lost, discovers the dying dragon and its cave. Spends the night there with his heart full of greedy, dragonish thoughts. Wakes up and realizes he's a dragon. Uh oh.
We go back to the ship, where Caspian and gang have spent the night after searching for Eustace the previous day. They spot Dragon Eustace flying towards them, who is trying to communicate with them. They obviously don't realize this and think the dragon has come to attack them, so they defend the ship. Somehow they figure out who he is (and what happened to Octesian), and, after a while, Aslan comes to change him back into a boy (again, I hope this scene is as close to the book as possible!). Ed and Eustace have their talk after Eustace's transformation, and DT sets sail again. (Whew!)

Once back at sea, who should they run into but the sea serpent! (sequence pretty much like the book) The attack by the sea serpent is thwarted, and DT continues sailing, though damaged from the attack.

Next comes the Dark Island (I'd prefer to have the "perils" of the sea serpent and Dark Island further apart... but I couldn't come up with an alternative ). Really looking forward to see how this island (hopefully) will play out in the movie! As long as they can capture the terror of the island and leave a lot of it up to the audience's imaginations, I'll be happy . Aslan as the albatross leads them out of the island with a new crew member in tow, Lord Roop.

After all they've been through, I hope Ramandu's Island is portrayed as a place of peace, and that mystery, more than foreboding, is felt. They find the sleeping lords, learn what they must do to awake the lords, Caspian falls in love with RD (please, please let this be well done!), and they sail into the Utter East.

During that journey, there's probably some kind of clash with the mer-people , but everyone makes it safely to where the water is too shallow and DT cannot continue. The company parts, with Caspian and crew heading back to Ramandu's Island to awake the sleepers... Caspian marries Ramandu's daughter, and Narnia is "saved," (done on screen, alluded too, whatever) and Lu, Ed, Reep, and Eustace continue east. Reep sails over the edge of the world, Aslan sends the Pevensie's and Scrubb home (like the book! like the book!).

YIKES. Longer than expected. Well, there, I suppose, is my prediction/what I hope will happen/what I fear will happen. I know there are some things I've left out/not explained (MLG... ), but hopefully some of you guys can include/explain them . Can't wait to look back and see how far off I was !

OK. I can do this! (I think)

VDT opens with Peter dropping Ed + Lu off at the train station, possibly with Susan + the parents.
Proceeds normaly through the picture frame, to the DT. Caspian explains everything about the voyage and gives Lucy her cordial and Trumpkin's sword. Eustace takes a violent dislike to Reep.
After a few days of sailing (with brief clips of their activities as the kids adjust back to life in Narnia and onboard a ship) they arrive at the Lone Islands. Somewhere on one of the Islands they are attacked by the slavers. Ed, Eustace and Reep are captured quickly, but Caspian and Lucy run into a nearby tower (hoping to signal the DT) and are captured there.
On the way to the slave market, Caspian is bought by Lord Bern and convinces him somehow that he is King Caspian X. They hatch a plan (involving a surprise attack) to free the others. Meanwhile, Lucy has met Gael and perhaps Rhince, who are also in the clutches of the slave traders.
The plan is successful. Hopefully the confrontation with Gumpas takes place at least somewhat like in the book. After Lord Bern is pronounced Duke, there is a party to celebrate. (here's where the "Ambassador's wife" fits in)
They sail on from the Lone Islands, taking with them some of the freed slaves who have homes on an island to the East. This includes Gael and Rhince.
Dufflepud Island is next, changing the order in the book. Eustace is still a brat, and MLGael goes along for the adventure (Though she would of COURSE not go upstairs with Lucy). Otherwise, all is as in the book.
Next, after much more sailing and prehaps a storm, they arrive at Dragon/Deathwater/Burnt Island, which is quite large. This is where the freed slaves live - only, at the end farthest from the wimpy old dragon. They land somewhere between the two areas. Eustace goes off and gets dragonafied ( ) as Caspian, Reep, Ed, and Lu explore (possibly with MLGael? Hate to say it, but I could see that happening), discovering the Deadly Pool. Small tiff between the Kings, stopped by the brief appearance of Aslan. Going back to camp, the dissappearance of Eustace is noted. The next day, the dragon Eustace is sighted and they hastily leave the Island. All put on armor and weapons, just in case. To their horror, the dragon follows them! He gets quite close to the DT, but they frighten him off by shooting arrows at him (Eustace doesn't know they can't hurt him) He flies away out of sight.
The next day, still out at sea, they are attacked by the Sea Serpent. But the dragon comes to the rescue and Lucy realizes that the dragon is Eustace. The Serpent having badly damaged the DT, they go back to the Island to repair it. Next they sail along the coast to the village of the freed slaves and find a few people still there (including Gael's mom). Gael is so excieted that she jumps off the DT to reach her mother ASAP. Rhince follows. The rest of the freed captives are dropped off and the DT sails on, dragon Eustace overhead.
They sail for quite a while, finally reaching Ramandu's Island. They find the three sleepers. Caspian has a "Love at first sight" thing for RD. Ramandu tells them their further directions. Before they leave, Eustace is disenchanted (with no interference from Ramandu, please ).
Traveling on from R's Island, they come upon the Dark Island. All is as in the book, here, probably with some mild escalation. Aslan appears to Lucy and destroys the Island. (I had a hard time figuring out where to fit this one in! )
Going on, Lucy later sees the Merpeople, but only a glimpse. A shot of the DT from their POV - gliding overhead- would be nice.
The sun is getting brighter and hotter as sail through the ocean of lilies, finally halting when the water becomes shallow. Caspian pitches his royal fit, but Aslan appears to him and makes him sensible of his duties. Ed, Lu, Eustace and Reep go on together. Then Reep climbs into his coracle, disposes of his sword, and says goodbye, going to Aslan's Country.
Ed, Lu, and Eustace meet Aslan at the edge of the world and are transported back to earth. Hopefully this scene will be changed as little as possible.
A short scene at the end, back in England, would be in order, I think. Not sure what would be in it though.

Sorry, that's long-winded! Dekkie, I'm with you about looking back! Mine's going to be laughably wrong, I'm sure, but I think it covers pretty much all the information we've had so far. Let me know if I missed anything!

GlimGlum, I liked your post with the levity. I think the part about the NarniaWebbers will be right on.
Adeona, My predictions are eerily close to yours. On my honor, I did not read your post before writing mine. I did adjust Dark Island into its own space because after reading your post I realized that I had consolidated seven islands into four instead of five.

The timeline will be the same as the book! No exceptions! Or not...........

I liked this start to your post. I hope the timeline will be the same too.
Prediction One: Everything will happen exactly like in the book, except that everything we have heard that was not in the book will be placed on the Dark Island and it will be a nightmare for Narnia Fans instead of the characters. (I know the chances of this are slim to none )
Prediction Two:
[list=1]

a. They land on Felimath and are captured or persuaded to come with Pug. (very unlikely)
b. They land on a more deserted part of Doorn with plans to walk across the island and meet the ship at the harbor. (Perhaps they also want to gather information about the conditions of the Lone Islands) They either try to escape Pug or they are picked off one by one as he gives them a tour of Narrowhaven. Personally, I think the first more likely. Lucy and Caspian end up in the bell tower (probably they ran there trying to escape Pug while the others ran in different directions, but they could have been led there by Pug and be the only two left). Eustace somehow manages to get into a boat alone and has his scene with Gumpas and is captured. Caspian is sold to Bern and everyone else ends up in the dungeon.[/*1lven3j8]

a. Eustace is transformed back to a boy exactly as in the book. They start to sail away from the island when they are attacked by a sea serpent. Eustace tries to use his sword but to no avail. Reep says to push. The sea serpent is dashed against the rocks. (we have an indirect quote about someone rowing to dash a sea serpent against rocks.)
b. Eustace is still a dragon but he has left or hidden himself because he is too much trouble. The sea serpent attacks Eustace appears and saves the moment. Then he disappears back to Dragon Island where he meets Aslan and is restored to a boy. Aslan puts him on the boat (he sees and talks to Ed first).[/*1lven3j8]

They sail into a darkness (i.e. by Dark Island), discover Lord Rhoop, and are saved by Aslan as the Albtrose. The darkness disappears and it is made clear that Aslan did it and not the crew or the hope they brought, etc .[/*1lven3j8]

a. Reep forgets about fighting because the water is sweet and is pulled on board.
b. Reep notices the water is sweet but ends up sparing with the Merman and some of the crew join in the fight (if Eustace hasn’t done an appropriate good dead to show he is a changed boy, he jumps in to help Reep).[/*1lven3j8]

I tried to fit in all the pieces we have as well as all of the pieces I really don’t want to have left out from the book, so this is a mixture of logic and wishful thinking. I may post other predictions at another time that have less wishful thinking but I think this is enough for now.

When I got to the end, I realized I hadn’t explained the ambassador’s wife or explain where Peter fits in. I’m still hoping Peter isn’t in it, but if he is it is probably a cameo at the beginning. I suppose the ambassador’s wife could at a party either in England (unlikely because Alberta and Harold don’t sound like they would travel in those kinds of circles) or at the Lone Islands (maybe Gumpas hears news of the ship at a party or maybe there is a party to celebrate the kings return).
Whew! I'm tired after all that thinking and typing.