It’s a remake Hawks’s 1930 film in the literal sense: almost word-for-word the same! And the action scenes are literally taken from it. That said, what you’re getting is the addition of some serious Hollywood star power. And that’s very much worth something. This is the version I would show to someone seeing the story for the first time.
Flynn is highly charismatic as usual, but you also get Niven and Rathbone playing somewhat against type. Really interesting and fun roles for both, I thought. And a couple of Ford regulars like Donald Crisp and Barry Fitzgerald are a nice addition.