As a horror fan, I think that sounds great- I'd actually go as far as to say I'd welcome the idea of an old skool introduction like that. Is it a horror anthology you have in mind?
My main concern would be the reception it would get across the board- the mainstream reception.
My case and point would be exemplified by M. Night Shyamalan's "The Happening". I seemed to be one of the few people on the face of the earth who enjoyed it- I liked its thorough 60's borderline "B movie" feel, fused with the high budget effects (in places). The point I'm getting at here is the overall theme and the conclusive twist of the film is steeped in the 60's style both thematically and visually (towards the end), and as you probably know the reception the film got was poor, with the critics slating it. The approach with the intro narration is a dated idea, but a touch which television has lost through time- this is for the exact reason you have mentioned, it can be seen as really tacky. My point here is that audiences are "past" this style, and it seems if "The Happening" is anything to go by, they are uninterested.
I know a director who wrote and shot his own 50's/60's B movie horror style films in the 1970's, I interviewed him recently for a documentary I was working on and one of my questions was whether he thought there was a market for these touch backs to the first classic age of horror- he told me there was no market for it and people have moved on too much. That is simply one person's opinion, one I have to say I agree with, but at the same time there is material and an idea there which is waiting to have life blown into it for the 21st Century. Either way, if you choose to go the "classic" route, you will please enthusiasts and audience cliques in the genre if its done well- big gamble though if the rest of the audience isn't going to take your show seriously though!
You sit at a crossroads, you can breathe new life into the idea or you could stick to the roots of the classics and tastefully recreate the style. Either way it is certainly a challenge, but doable!!