According to the LA Times, this Knight Rider is "being conceived as a somewhat higher-budget, more action-oriented movie". Action-oriented strikes me as strange for a Weinstein production, given that their more recent projects include Inglourious Basterds, Blue Valentine, The Master, and Silver Linings Playbook. With Weinstein's involvement, it's likely that they're going for a slightly more comic version of the movie, perhaps boosted by the tongue-in-cheek comedic success of Fast & Furious 6.
Copeland has been attached to a number of comedic television projects before; apart from Arrested Development he also worked on the US version of British adolescant romp, The Inbetweeners. As for the project itself, NBC launched a Knight Rider reboot back in 2008 which ran for only 17 episodes, as it failed to get ratings. But common sense never stopped Hollywood before, so this reboot has a real shot at being made. And with the Weinstein bros. in tow, I'm actually looking forward to it. Are you?