Well, having played it virtually all day, I have come to a conclusion. It was a hasty purchase.
I am most certainly having fun with it, but I was under the impression that there would be something more to it. Basically, I payed 10 bucks for something I already have, except the graphics are slightly smoothed out, the music/effects volumes are way off (and not adjustable), achievements have been added, and the sound is sketchy and very compressed. They also removed the FMVs, though they weren't anything special anyway.
My biggest gripe though? No surround sound. And the way my receiver works, I have to change the 360's audio configuration to Digital Stereo just to get fake/matrixed surround (PLII Game and all that).
Basically, If you've never played the original, get it. If you've played it but don't have own it anymore, get it. If you still have it, consider not getting this.
All that said, I'm still playing through and having a blast.