they remixed the music. they remade all the boss fights (and added new bosses). the dialogue is witty and fun. the game has co-op. they added a fun multiplayer mini game. there are the training missions in the neutral zone now. the character designs were all redone. they have fun with the original by expanding on the sort of futuristic/sci-fi designs the original had. they added a puzzle game when hacking the enemy communications. you can now use all weapons in each zone and some weapons are required to beat certain areas, unlike the original where you mostly stuck with the rocket launcher. they added the ability to grab and throw barrels and enemies, something that adds a very fun element to your attacks. they even added new weapons.
if you watch the making of vids they explain that they left the game mechanics on purpose because they felt they were updating an old NES game for a new generation. they say that the mechanics were not realistic (always get the same swing, always swing out the same distance, the unreal arc of the swing, etc) but that they were the mechanics. they really wanted the game to have the same feel and the focus was more on the things i mentioned above.
i think they did a lot more than just give it a fresh coat of paint. now the new ocarina 3ds... thats a fresh coat of paint!
i really enjoyed rearmed and found it worth the 9.99 price. 4.99 is a steal for the game in my opinion.
-another world