I was a massive fan of the original Knight Rider. It first aired in 1982 when I was 4, but I was a bit older - old enough to watch and understand it - by the time it aired here in UK/Ireland and I was obsessed with it, having grown up around a family car business/garage and already have a growing obsession with cars. Had the posters, toys, annuals, everything.
However, Knight Rider worked so well because of a number of factors - the cast, the technology, the core premise, KITT's personality, the appealing Californian setting, the fact it didn't take itself too seriously. They've tried to reproduce that magic since but with some changes - Knight Rider 2000, Team Knight Rider, the 2008 TV series - and it didn't work at all. I don't know if it will ever work as a new property - sometimes you can't reproduce that magic no matter how much money is thrown at it.
Sure, you can re-cast : they did it with the A-Team, and David Hasselhoff is certainly not irreplaceable. But part of the problem is KITT itself. The technology housed within KITT that looked so amazing in 1982 no longer has the same allure; modern cars have touchscreens, wifi, self-driving features, and so on. And I know a modern KITT could still have the turbo boost feature for jumping, and wireless jammers and the like - but really, is that going to be enough of a leap (no pun intended) to make KITT seem like a technological powerhouse compared to modern cars?
There's only so much you can do with a car. They tried going farther with the 2008 series - KITT could repair and change shape with nano-tech, or even transform - but it ended up becoming ridiculous.
I really do hope they come up with a new KITT which is impressive enough to wow us as an audience, without becoming farcical - but it's going to take a lot of thinking.
As for the new Michael Knight - well I'll probably get flak for this, but for a number of years I've been saying it should be Tom Welling. I know he's not the most accomplished actor in Hollywood, but neither was Hasselhoff - in my opinion, he's more than competent enough. What he does possess are similar qualities to 1982's Hasselhoff in the original series, which are why I think the character worked - tall, good looking, likeable, and plays the hero very well. As the name pun intended, Michael Knight was always a bit of a modern version of a Knight on horseback, doing good deeds and righting wrongs - Welling has an innate good naturedness that sells that characteristic very easily.
Also, he's 39 but passes for mid 30s easily, which is what I want - not another teen jock type like the new MacGyver.