I like the idea of it being a town in Mid-World If I'm interpreting Mid-World correctly as being an alternate world within the known world. Dangit TG, I've never had the desire to read the DT books until you started talking about them. I did read The Gunslinger twice, then found out it had been revised and didn't want to read it a third time. I do NOT like Roland. I've been told he becomes a better person but I'm having a hard time buying it.
Y'know... so much of the story has been changed, maybe there are no aliens in the tv series at all. How far along are you on the UTD audio cd's?
I would give it a chance. The current rewrite is to make The Gunslinger a bit more readable (I believe it was one of SK's original works, The Gunslinger was 5 short stories, and he hadnt hit is style yet and wasnt necessarily planning the entire epic story) and also adds to some continuity later on. The Gunslinger was kind of a tough read and things didnt make too much sense, but SK really hits the SK stride in The Drawing of the Three. The story really takes off from there, becomes less abstract, and builds throughout the subsequent books.
I would at least get through The Drawing of the Three before making a decision.