This is either going to be amazingly entertaining or like nails on a blackboard. Much depends on Rohit Shetty's ability to wrangle King Khan and on pulling a comedic performance out of Dippy. Neither of those things are impossible but I suspect Rohit will have his work cut out for him in channeling Shahrukh's energy in a productive direction.
Things could travel swiftly into the intolerable category considering one of the USPs is "lots of romance." Because everybody loves romance between uncles and twenty-something girls.
(And by everybody I mean nobody except the uncles in question.)