As much as I love RnR, and as much as I like Aerosmith, and even that little movie everyone seems to complain about (I'm a sucker for Illeana Douglas, which is also a great nod to Hollywood history - her grandfather was Melvyn Douglas)...I could totally go for this.
Even without GoG, my first instinct has always been that I'd love a jukebox style theme. Aerosmith, again, awesome, and there is some nice variety in there, but there are so many limitless possibilities for other artists and songs. That makes GoG such a natural fit.
Though, similar to what Martin pointed out, I don't know how much I could get behind a redo with more cardboardish cutouts. I'd want...something else. Which leads to what
@wdwmagic said - since it does work as-is, it would be nice to see the money go elsewhere, because I wouldn't want a half-baked overlay, either.
The idea does intrigue me, though.