Can this be remade today?

I personally think that this movie could be remade mostly because not a lot of people have heard of it so can't really compare it. And who doesn't love a good makeover montage?

I would hope that if there ever was a remake, then they would release the original on DVD, much like when "You've Got Mail" came out and the market was inundated with "Shop Around the Corner" and "In The Good Old Summertime" on VHS and DVD.

Any thoughts?