Well, Monkey Island's done. Long story short: it's a very gorgeous game with the new hand-painted 2D sprites and backgrounds, and it makes me hope we see more Lucasarts classics restored like this. My only complaint with the graphics is that when you're in "Special Edition" mode you don't have the SCUMM HUD on-screen, so most of your inventory management and whatnot is going to be done with keyboard shortcuts. Also, while the art is very nice, the animation is not. It's not uncommon to see characters with a whopping 2-3 frame animation routine, though it's not a huge issue. The puzzles in this game, though, can be very obtuse and I got stuck frequently, requiring quite a few trips to Ye Old FAQ. Often the solution would be some obscure use of an item that either didn't make much sense to use there, or it would be an item that's easy to miss. Still, great game and I'm looking forward to the rest of Tales of Monkey Island even more now.
Note: You can play this game with either the new Special Edition visuals or the original version's visuals, though I have no idea why you'd ever want to leave Special Edition mode. The game looks like crap in its original form; the music is tinny; and there is no voice acting.