Obviously this is being called The Twilight Zone
to capitalize on the original's brand recognition. I don't have a problem with that; the original has been extremely well preserved for a television series from the 1959-1964, and if stealing the name is what it takes to get a sf/fantasy/horror anthology series aimed at adults on the air, so be it.
What this series will need to succeed, of course, is good writing. The UPN version was often mediocre in that regard, and it critically wounded that version of the series, despite the effort it exerted to replicate the original's format.
Hopefully this new series will do what the original did best -- tell a mix of original stories and adaptations of short stories that are suited to the screen. What I don't want to see are many remakes of earlier episodes. Given the availability and excellence of much of the original series, that would be a supreme waste of time.