I would DROP
original table and just create new one on the fly using SELECT INTO
clause.
by using SELECT INTO
you do not need to create table before hand or worry what type and how many columns it will have. SQL Server will just create it for you.
Note: this only works when table does not exists.
Full documentation on INTO
Clause http://technet.microsoft.com/en-us/library/ms188029.aspx
as another alternative you can always SELECT INTO #temp
table that you can drop or use it to model your other table but I think this is extra work that you do not want to do.