It depends, actually. I'd certainly do that if he were doing Eps. VII-IX. But if he was doing Eps. IV-VI again or simply telling some alternate continuity....I'd probably be more pissed about the fact that they were rebooting something that in my mind might not need rebooting.
If THAT's one's gripe here, then yeah, I totally understand. If you want more of old-school Trek, this movie will NOT give it to you except insofar as a few aspects of costume design.
If you are cool with the notion of a reboot of the series in general, then it's best to look at this film through that lens. It's just a reboot. Doesn't matter what anyone says, for all intents and purposes this is a reboot. It may be a reboot that hews closer to the originals than, say, the Bond reboot, but it still strikes me as a reboot. I'm cool with that, as long as it does a good job. I haven't watched the trailer yet, but I'm probably just goign to avoid it so I can go in and see the film with fresh eyes (unless I hear that it really is like a Michael Bay film ahead of time).
Once you accept it's a reboot, it doesn't need to be faithful to old school Trek except in very general terms. I honestly think that the guys at Paramount saw the success of the BSG reboot, and said "Hey, we can do that, right? Get that guy from TV and have him do it."
I will, however, say that it's wrong to manipulate fans and BS them into believing that they'll get a return to the classic style Trek and then pull a fast one on them like this. If what Abrams said really did mislead fans, either he should've been WAY more careful in selecting his words, or he should own up to the fact that he's full of crap and pulled a bait-n-switch on them. The one good thing about this is that any old school fan who's really bothered by this can probably tell as much from the promo material, so at least they get their disappointment BEFORE they shell out $10 for a ticket.