If there was fun to be had from this, it's eliminated due to things that aren't the game's fault. This appears to be true to the arcade, though I have never played the game before this. The graphics are really bad. I imagine they looked better in the arcade.
The worst part about this game is the first thing you notice. When you boot the game you have to wait. Wait through developer after developer, one at a time, logos and logos. You can't skip them and it happens every single time you start or reset the game. I swear it takes somewhere around 60 seconds to get to the actual part where you press start. Then you have to wait for load screens.
When you do play the game, unless you change the controls, the controls feel completely wrong. I couldn't find the bomb button and it hurt pressing the small 1 and 2 buttons continuously to fire and jump. You can use it with the Gamecube controller or with a nunchuk but I didn't like those options. Why can't I use my arcade controller? Well it's not an option, or at least one I couldn't get to work.
So yeah the game is fun if you like the game, but those two points made it really hard to enjoy.