It is definitely a Western, and the working title I’m hearing is The Hateful Eight. Tarantino has finished a draft, and is in the process of showing it to a handful of actors he wants for the picture. He usually does this, gets feedback and goes back in and hones his work. I’m so far hearing he’s got two actors in mind.
One isn’t a surprise: Christoph Waltz, whom Tarantino helped transform from an Austrian character actor into a two time Oscar winning star of Inglourious Basterds and Django Unchained. The other name I’m hearing is Bruce Dern.