The graphics are awesome - but I've only barely played melee, and have never played the original*, so YMMV.
The controls can be a bit annoying. You can make changes to your controller config, but you're restricted to what actions can be assigned to what buttons. Ferinstance, the Classic controller would be perfect if you could assign movement to the D-pad, but you cannot. (not a big fan of the analog stick.)
The Wiimote is better but you are not allowed to assign one button to smashing; it must be two. (either 1+2 or A+B); I haven't got a GC controller yet, that may be better.
speaking of D-pads, what is up with all these f*cking taunts? Why do you need 3 of them? Are they some deeper part of the game I don't understand?
Also, funny story: I unlocked ROB last night. His level is from the original mario bros. During one match, my oldschool gamer instincts kicked in, and I went "gotta run to the other si...f*ck!" and fell off the edge.
*edit 'cuz i'm stoopid