Considering the scenes and score shown in the first trailer, I think it fits what the director is going for.
The small town setting does kill a lot of it for me as the original really was a end of days scenario putting the city/world at risk with a big end boss encounter.
Can they really replicate those feels and the drama that accompanies them in a small farm town? Probably not. I know there hasn't been any talk about it but maybe it will be a trilogy and this is just step one to reintroduce everything to the newer generations.