Cave Story, as seen in the original game. On the right: Toroko's redrawn sprite from the WiiWare version. You can see the sprites in actual size in the middle of the image. The new sprite is still pixelated and very charmingly retro, but now Toroko kind of has fingers and toes.
We should probably hate an attempt to spruce up the already-wonderful Cave Story on principle, but, honestly, we think this looks great. It still looks like Cave Story to us. We can't wait to see what Pixel has done to the rest of the characters.
If you hate it, of course, don't forget that the visual upgrade is purely optional, and you can choose to play the WiiWare game using the original graphics.