I was lucky enough to see this in theater, opening weekend for my HS graduation!
I passed on T2 for it.
I think the re-evaluation and decision to do a special edition has something to do w/ the director being the same guy who directed Capt. American this past summer, which totally has the same style stamp.
Good choice each time, there was talk at the time on how Rocketeer was going to kill his career tho.
As a movie, it was a good distillation of the original creators ideas and influences, but even then I did feel it ... deferred a bit too much to the source material to catch on w/ movie audiences--much like Dick Tracy had a couple years earlier.
Too 'Disney'.
I am a big fan of the original comic, and was lucky enough to be buying stuff when it was first getting published (mostly by Eclipse Comics).
When Dave Stevens died a few years back, it was a heartbreaker, guy had a vision and the skills to carry it off too. The movie benefited from that as well.
Recently IDW has been putting out reissues of his work in really slick collections, and they did a tribute miniseries w/ tons of great contributors.
Stevens was never super prolific, in fact he had trouble ever finishing his Rocketeer story, but everything he penciled was just beautiful, and is one of the creators whose work is reduced in attractiveness by modern comic printing techniques.

I hope there will be some new stuff regarding his work/legacy on the new BR.