An edit approximating the structure of the original might be interesting. Personally though, if I want to see a cut that mirrors the original, I'll just watch the original. The films are two different beasts and I don't really see the purpose of cutting out story and good scenes to recreate the original. That's not really the point of a remake, is it? But as an experiment, it might prove to be fun. I'd like to see if it could be done.
