No Arnold and no Mars.  This time for "Total Recall" we have Colin Farrell and a futuristic Earth.  Not sure if that's better or worse.

Based on the short story "We Can Remember It For You Wholesale", this remake of "Total Recall" shares the same basic story as the 1990 original.  Douglas Quaid, bored with his life, makes an appointment with "Rekall", a company that will implant any memories you want.  If you ever wanted to be a pro athlete, a movie star, or a secret agent, Rekall call give you those memories.  While Quaid is at Rekall, buried memories are uncovered, showing the Quaid isn't who is thinks he is.  According to the official website,

Total Recall is an action thriller about reality and memory. Welcome to Rekall, the company that can turn your dreams into real memories. For a factory worker named Douglas Quaid (Colin Farrell), even though he’s got a beautiful wife (Kate Beckinsale) who he loves, the mind-trip sounds like the perfect vacation from his frustrating life – real memories of life as a super-spy might be just what he needs. But when the procedure goes horribly wrong, Quaid becomes a haunted man. Finding himself on the run from the police – controlled by Chancellor Cohaagen (Bryan Cranston), the leader of the free world – Quaid teams up with a rebel fighter (Jessica Biel) to find the head the of underground resistance (Bill Nighy) and stop Cohaagen. The line between fantasy and reality get blurred and the fact of his world hangs in the balance as Quaid discovers his true identity, his true love, and his true fate.

The biggest difference between the two films is the setting.  Where the original ended up on Mars, the remake takes place entirely on Earth with a battle between Euroamerica and New Shanghai.  When talking about the production of the film, the producers and director said that while this film would focus more on the political struggle featured in the original short story, this movie would have references to the original film, such as the prostitute with "something extra".