I'm sure you'll agree that the new lighting system looks fantastic. I'm so happy with how much it adds to the overall feeling of Grim Fandango. Additionally the new score really adds to the depth of the original. That said, there are some disappointments, too.
Tim Schafer has confirmed that the models themselves haven't been altered in any way (other than increased textures). This is a shame. The character's fingers still are comprised of "x"s instead of three dimensional shapes, and thing look very angular in places (especially Manny's head and Glottis).
There's also a few visual glitches in the videos (see below), but I hope that these are fixed before release.
More great footage (with Tim Schafer too):
On the whole, I cannot wait to play Grim Fandango Remastered. It looks (and sounds) AMAZING... but maybe Grim Fandango Deluxe isn't finished after all.