Pegg And Wright’s The World’s End Storyline Revealed

The World’s End, the third in the loose trilogy of films from Edgar Wright, Simon Pegg and Nick Frost (following Shaun Of The Dead and Hot Fuzz), is set to go into production in September, according to Deadline. And if you read the official synopsis literally, it could be in SFX territory:
“20 years after attempting an epic pub crawl, five childhood friends reunite when one of them becomes hell bent on trying the drinking marathon again. They are convinced to stage an encore by mate Gary King, a 40-year old man trapped at the cigarette end of his teens, who drags his reluctant pals to their home town and once again attempts to reach the fabled pub, The World’s End. As they attempt to reconcile the past and present, they realize the real struggle is for the future, not just theirs but humankind’s. Reaching The World’s End is the least of their worries.”
So, is there a supernatural element? Or does all that stuff about the struggle for humanity’s future just indicate some alcohol-induced paranoia? As a couple of people have pointed out, it does sound a little like Stephen King’s It.
The film will be produced by Working Title, and there’s a tentative release date of Spring 2013.