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Originally Posted by habitat
The American version was never "Jay Leno's Top Gear", it is actually owned by NBC. NBC did offer Jay Leno a spot as one of the three hosts from which Jay quickly refused. You can read his article which gives you his reasoning (which I completely agree with, thanks for not selling out JAY!) located here: I hope we don't ruin Top Gear - Times Online
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Jay will definitely still do the "watered down" American version. Let's not forget that Conan is getting ready to take over Jay's slot on the Tonight Show.
Jay's got more money than God, and is too used to being on TV. It's not like he's Johnny Carson who actually did retire after 40 some odd years on television.