Just installed it and have been playing it for about an hour, and it is cool as hell!
Dead spot-on to the original that I spent far too much time with, and the graphic updates are very nicely done.
Sound effects are really sweet. I cracked up when I realized my pirates were singing while I was sailing around (They were happy). I'm enjoying the heck out of this game. My wife is making fun of me cause I go "Arrrrrr" everytime I plunder another ship