First of all I play Worms since 1996 (my first game being Worms on SEGA Genesis). I haven't played all the Worms there is to play but I played the majority of them (Worms, Worms: Armageddon, Worms: World Party, Worms 3D, Worms Under Siege, Worms GBA, Worms Open Warfare 2 DS).

The first thing what disappointed me about this game is the graphics, everything looks too sterile, animations could have been done better (they are a little stiff at the times), but comparing it with many previous 2D style worms games this one looks really great despite some design flaws - nice flame / burning special effects, powerful weapon explosions (sometimes a bit too over the top).
The game plays fast and I couldn't notice any lag in performance under max graphical settings even though my computer is 4 years old (Pentium IV 3.0GHz, 2 GB RAM, ATI Radeon X1800 256MB, Win XP PRO SP-3). Multiplayer was smooth despite the limitations of only 4 worms per team (WTF?!). I guess developers though the multiplayer would be more streamlined that way so people wouldn't take too long to finish each other off (can't think of any other logical explanation for this nonsense).

Worms RELOADED starts with forced first-timers tutorial (you can skip it but you get points for your purchases in THE SHOP) was a little annoying for me. The game packs great amount of weapons which covers almost every game of Worms to existence, which is pretty cool, the extra powerful weaponry can be purchased through acquiring points by finishing game tutorials, campaigns and other missions.
A big, but NOT huge list of customizable content for your team and its worms, great remastered sound clips of good ol' and new worms voices to choose. I was delighted to find surprisingly complex level / campaign editor and nice choice of game modes to try. I dunno how to sum it all up in few words. Its worth the money for sure. Is it the BEST Worms game to date? Answer - NO. The worst? - NO either.

However if developers would consider to lift some of its flaws out like the pathetic number of worms for your team, I would consider this as one of the best Worms games in years. Because despite the flaws, this game is still fun like any other worms game either way. For FANS of the old and the NEW comers alike, this is a good buy for its price and value combined.

I definitely agree with the sterile part. I couldn't put my finger on it at first but now that I think about it, all of the environments seem very same-ish. The worms also look a bit "off" for some reason, not sure what it is (the eyes maybe?).  
 
I think for anyone that hasn't played Worms this is still a pretty good game, but for any die-hard Worms fan, Armageddon is still the king of the series. 

you cant effect the bounciness of grenades so its never going to be as good as the original, but still awesome.