Good luck man.  Be careful.

I'm glad I didn't buy GHII - didn't know it was a cover of the song. 

I think they need to do a GH (or RB) GnR.  they can use it to not only put all the classics on there, but it would be an acceptable format to release the re-recorded AFD and release selected songs from the new band to get people more interested in getting the album.  I think this would work much better than putting a 90s song on RB2 as a standalone and expecting people to get into the new band.  The general public will need to be eased into the new band for it to have any chance.

I'm asking this not to be a jerk but because I really don't know the answer:  I've never heard this song.  My wife and I listen to 2 top 40 stations in the car for the hour commute to work (we don't get a signal the whole way for either station).  One of them is pretty typical top 40, the other has a little of a leaning towards modern rock since it used to be an "alternative" rock station, but still plays all the usual top 40 stuff.  What kind of radio station plays this type of music?

Then you have 3 chances for people to say it sucks...why would you do that?  The only way the genreal public is going to buy this is if you ease them into it.  You can't hit them with 90s music in 2008 and expect them to beg for more.