My room-mate and I picked up season 1 and 2 of Knight Rider for about $20 each. We figured we'd pay a dollar an episode to watch it. Some of the episodes are pretty well written, despite taking place in the weird 80s. The episodes that are poorly written are comical/entertaining enough for us to keep watching them. I think on the whole, for the time, it was quite well put together.
As far as the new movie;
Micheal Knight - Ben Stiller
Devon Miles - Will Ferrel
April - Christine Taylor
KITT - can't go wrong w/ OG
I just think that would be hilarious, yet strangely cool if they all hammed it up.