Having watched Drive, and being a fan of the first Maniac Cop, I can honestly say this a good match. There's that tight ideology and confined exploitation present in both films and although one is clearly smarter than the other, this could be wonderful. I don't mind remakes if there's some talent involved. This is an example.
This story seems to be entirely from the mouth of (the great) Larry Cohen, and coincides with Maniac Cop being re-released on DVD two days ago! Hope there is some truth in this, but suspect it's a bit of ambush marketing from the master of B movies.