Watching EFNY again, I cannot believe how cool it is compared to later JC films (especially the God-awful EFLA). The energy and originality is equal to his earlier efforts (Assault on Precinct 13 and Dark Star). Granted, there are some eye-brow rasing moments where the film gets a little too silly, but all in all, the film moves, and Snake is cool!
Also, check out the Director's Version, just to see the cut footage from the beginning of the film (How Snake Got Busted) and some comments from James Cameron on his SFX work for the film.