This can be fun as long as the new script isn't too tame. If the script is outrageous, GREAT!
This technique has a long tradition. From Maria Reidelbach's COMPLETELY MAD (Little-Brown 1991, p.25): "...Kurtzman sometimes had difficulty coming up with enough material [for MAD]. Here, he lifts the artwork directly from an EC suspense comic and supplies new dialogue, much of it also clipped from other sources [in various languages and alphabets] and dropped into the word balloons. The effect is strangely surreal and at the same time absurdly funny." (MURDER THE HUSBAND, Mad #11.) The mix of English, Chinese, Hebrew, Cyrillic, and Greek really transforms this two-hunters-in-a-canoe page.
Obscene and political texts would be fun too. But not for posting here.