As a fan of some of Uncanny Antman's previous work, I couldn't resist checking this out. Also it had been ages since I'd last seen it and I'm a fan of the character.
From what I can remember of the original and from what I read in Antman's description of changes, there is a mix of good and bad here from a story standpoint. The tone of the story seems much improved, more serious, realistic, & dramatic. He did a great job cutting out the cheese. Unfortunately the story really falls apart after Electra's death. It may well be that this is an unavoidable consequence of cutting out the cheese, or maybe that is the case in the original too. But in either case the end feels extremely rushed and unfulfilling. They make taking down the Kingpin seem about as easy as taking down a local thug, and Bullseye has no conclusion.
I applaud Antman's efforts on this. It is a great alternative to the original, but it also makes me suspect that there may be no way to salvage the story in this movie.
I only watched the SD avi of this, but based on that I would say the video and audio quality and editing are excellent if not flawless. It isn't 5.1, but that's fine. Its an older movie.