I watched it yesterday, and while I'm not quite sure how I feel about it yet, it did capture my attention enough for me to keep watching until the end (unlike when I attempted to watch the new Charmed and gave up halfway through the Pilot).
I think I would have liked it better if I had never seen the original show (I haven't read the books, so I can't comment on that), but because I have seen it, I think I was comparing the new one with the old one too much (especially with some of the dialogue being the same)... and I kept expecting the original actors to appear in it. What I find frustrating about a lot of US TV shows these days is that you can barely tell the male actors apart - they're all good-looking, muscular and dark-haired - and without major defining characteristics (either personality- or looks-wise), they just kind of blend into one... which is kind of the case for me here (particularly with Kyle and Alex).
I also have an issue with the Alex and Michael relationship... I just don't think it fits their personalities as I know them (plus Michael and Alex will always be Brendan and Colin to me). I can see Alex being gay/bi, but Michael is such a closed-off character in the original, not wanting to make any connections with anyone, that it just doesn't work for me here (of course, we don't know any of Michael's background in the new version yet so maybe it will make more sense later on).
However, I must be a sucker for the Max/Liz romance storyline (how he's been in love with her all these years, and how she liked him too), because I enjoyed that part of the episode

.
There were some 'huh?' moments though, like Max's expression when he healed Liz (someone else said constipated, but what came to my mind was something else ;P), and how he had to touch her chest (the handprint?) to show her his memories... which just looked to me like he was trying to cop a feel

. Not to mention the pods just sitting there in the cave, out in the open, with only a wooden 'door' to protect them.
Btw, I found out the other day that the actress playing Isobel is Christine Baranski's daughter. And for those who haven't seen it, Kyle was Tyler Lockwood in Vampire Diaries.