Have you seen Edward Furlong lately? He looks rough as **** and looks decidedly sleazy and creepy, he'd be ideal for this role.
But Elijah Wood? Hardly an intimidating figure of a man. Still, let's wait and see how it turns out. The original is, as Paul said, an exploitation classic. Not sure why Lustig has greenlighted this, but I hope that it means that if he gets a sizeable cut of the profits that it may allow Blue Underground to purchase some new titles and remaster some older ones.
Just think, Pete, this film you hate might indirectly be responsible for getting some Franco on BD.