The value will depend entirely on how much you like these types of games. Some may get bored, while others will love it.
The game is your typical arcade beat-em-up. After the brief intro sequence (there isn't much story to speak of, although this is expected), you choose your turtle to take into action. Each has different statistics, but the only one that really seemed to matter was range. This gives the unfair edge to Leonardo and Donatello because they could strike enemies from further away than the other two. There are two attack buttons available: basic and special. The basic attack simply strikes in the direction you are facing and does minimal damage, although it can be pressed repeatedly to chain together combo attacks. The special attack does slightly more damage, but also performs a sweeping motion that strikes around your turtle. A third button jumps and can allow you to perform a jump attack as well. The original game only allowed attacks to the left and right, but in this remake, you and your enemies can attack in a full 360 degrees. This does add a whole new angle to the combat, but it also can make it difficult to line up your attack correctly from certain angles, especially against bosses. While the previous TMNT game released on Xbox Live had a decent variety of enemies that required different strategies, every enemy here can be defeated by isolating them from the group and pounding the attack button. Some of the more intense battles require some strategic thinking, but simply because of the number of enemies and not because of varied abilities. That isn't to say that the game doesn't supply some old-school fun. The TMNT series of arcade games have always been some of the best in the genre, and that still holds true today. Re-shelled is actually a bit easier than the last Live game, so if the difficulty turned you off of the previous one, this may still be worth a look. Your turtles take many more hits to die and your health is recharged after each level. There are also at least two health pizzas in every level. All this makes it much easier to stay alive and make it to the end. For the achievement hounds, they are easier to get in this game as well. Playing with three other friends is just as fun as you would expect, but the screen can become cluttered, which can sometimes make it tough to see your character. The game takes about an hour to finish and the replay value will depend entirely on how much you like these types of games.
The new 3D graphics are definitely a welcome sight, but they aren't quite up to today's standards, even for a ten dollar Xbox Live game. The developers tried to go for the cartoon feel by not using many different colors or textures, but this rarely works well in a 3D game. The sound is also only slight improvements of the original effects and score. The time-traveling theme was a missed opportunity to have some cool new backgrounds. As the turtles travel from one time period to the next, the levels barely show any hint of being from any time other than our own. Oddly, no matter where they go, they still are fighting the same foot soldiers. I was unaware that the Foot Clan was an organization that has lasted longer than written history itself. All in all, this remake could have been done three or four years ago in the exact same way. Nothing truly takes advantage of the current technology's capabilities. It also hurts a bit that the most impressive enemy is seen halfway through the first level (The gigantic Super Krang), which builds your hopes for the rest of the game, only to leave you a bit disappointed in the end. Part of me wishes that the graphics were left alone, but then we would have lost the 360 degree fighting, so it's a tough trade-off.
For fans of the original, or of TMNT in general, this is going to be a fun game that will always entertain as long as you aren't going in with too high of expectations. For anyone else wanting some beat-em-up action, it's worth a look, but you should probably wait until you know a few friends that have it too.