Just got back from a screening of Raiders: The Adaptation in La Jolla. The crowd was very positive and encouraging, and seemed to enjoy the film a lot. I spotted a few fedora's in the audience, as well as at least one full Indy, which really "made" the atmosphere.
Looked at as a whole, the film is amazing in both it's attention to detail and mastery of the effects and stunts. When you consider the age of the kids who pulled all of this off- wow. All I know is I was never (and probably never will be) that creative or resourceful- so my hats off to those boys. It sounds like they are doing quite well now, and they deserve every bit of success.
Really the only tragedy of the whole thing is the poor visual and audio quality that it has been left with- a combination I suspect of age, poor equipment in the beginning, and copies of copies of copies. I think if you didn't know the script well going in, you'd miss quite a bit of the dialogue that is either drowned out by background noise, or garbled. I'm sure the copy being shown now has been cleaned up some, but I wonder if there is any hope for cleaning the tape up more so that it's just not quite so rough, especially the audio track. Just balancing voice to background to music would make a world of difference.
All in all, quite an experience, and one I recommend highly to anyone in a city where it might be playing. Apparently it's being screened in Brazil sometime soon- so you international folks might not be as out of luck as you think!