I'd put my money on a "Bionic Woman"-like end product as the more likely outcome. My guess is that they'll try to pull a BSG by making comparisons to today's War on Terror issues (heck, it already has a Homeland Security agent as the key character). Then how they're not all bad...the Fifth Column of aliens that was in the original series...and all the moral complications that brings with it. It may be hard to pull-off.
That said, I loved the original series when I was a kid. Sure it was corny, but it was on TV! First "Greatest American Hero" and now "V".