The show certainly covered enough themes that this could make for a wonderful film if it's done well. Fantasy, horror, science fiction... It's got all the tropes that put the bodies in the seats. Trying to steer clear of the '80s film, however, I would imagine that this would be a fresh story, and not simply the remake of episodes. So, it'll all come down to how well it's done, and whether it can live up to Rod Serling's genius.
The fan in me, who always chose the Twilight Zone marathon over Rockin Eve New Years' plans, is sitting on the fence. The possibility is there, but the reality is still so far away. Could anything compare to "The Lonely," "The Eye of the Beholder," "The Obsolete Man," or any of the other excellent episodes, not to mention the first movie?