I saw Texas Chainsaw Massacre last night. It was good. It was gruesome without showing a lot of gore (like the original.) It was definitely created by people who had a lot of respect for the original movie, and they show it through various visual homages to the original.
They do some things better. You get to know these characters better than the original. You care about Jessica Biel's character. And when people are in pain, you feel it. They're not just hacked away like all those nameless slasher movie victims (not that there's anything wrong with that.)
And they retained the deep, black humor of the original, which is probably my favorite thing about that movie. R. Lee Ermey was fantastic. If you like horror movies, check it out.