February 22, 2015
I watched the non-purist cut of this (blu-ray) which contained elements from both versions of the film, and I honestly couldn't discern which shots didn't belong to the original. The entire thing is masterfully done and vastly superior to the theatrical release. I didn't notice anything awry audio-wise and, apart from some overly quick fades (which others have also noted), visual editing was excellent as well.
The narrative is much improved, although, due to lost footage, it can never be perfect. The story isn't massively well told and I can't imagine it making a great deal of sense to those who aren't familiar with the book. Still, this is probably it at the best it can be, and the pacing is also so much better as a result of the re-ordering of scenes and minor trims.
Does this replace the original for me? Probably. I'm still yet to watch through the Spanish language version and I'd also like to see the theatrical once more so that I can give the alternative soundtrack a proper spin. But off the top my head - yeah... this is it. Really well done, and clearly with a great deal of respect for the source material. Highly recommended.