Speaking as someone who has actually seen both, and is a fan of the original, the new one is exceptionally better, although to be fair this new one takes its own path and it's honestly hard to compare the two. Wood's look is rarely a concern as 99% of the film is shot in the first person and you only really see him if he catches his reflection in a mirror or other reflective surface. That said, Wood fits the serial killer motif way more because they are nearly always regular looking guys that people rarely believe could commit such atrocities. I'd urge you to give it a chance, especially if you are a fan of the original. A few clever nods to the original are mixed in.
For those interested, here's my review as well.
http://thehdroom.com/news/Maniac-201...n-Horror/12638
The movie is now available on demand if anyone wants to give it a look before taking the plunge and buying it. Be forewarned that it is not for the squeamish.