As much as I love the original, and I do... I'll be the first to admit it's pretty lousy. As impressive as Harryhausen's effects were (and they were), the story took a backseat to letting him show off his abilities. Granted, that looks to be about the same here, and even if so... I dunno, I'd consider seeing this.
"Your lyrics lack subtlety! You can't just have your characters announce how they feel! That makes me feel angry!"