Oh man. This is great. If you have any love for older games that don't take themselves too seriously outside of the game proper, you need to play this. The movement mechanics have been transferred perfectly and there are enough upgrades outside of the visuals to make it a new game. The best upgrade has easily been the bosses. They've all got a trick to them and, while they've generally been easy so far, they've been a lot of fun and had plenty of character to them. A lot of dialog has been added well that has been purposely campy, which has been a good thing in my opinion.
Idol mentioned on IRC that the game was pulled from STEAM at the last minute, but there are still other options to buy on the PC. If you've got a next-gen console, try them demo that should be on both systems.