Well, in terms of "good" adaptations, I think an absence of latex hand puppets playing the dinosaurs
would be a decent start...
That's not a knock on the '92 film, honest; I'd just like to see a Lost World
with proper CG effects.
CG effects are not more "proper" than any other kind. They're just one tool in the box. The reason the original Jurassic Park
's dinosaurs were so convincing is that in the vast majority of shots, they were live animatronic creatures that were actually physically real, present on the set, and interacting directly with the actors. CG was only used in shots where animatronics couldn't do the job, like full-length shots of the dinosaurs running or jumping. The "proper" way to use special effects is to use the best technique for each shot, ideally to mix multiple techniques so that the weaknesses of each are compensated for by the strengths of the others, rather than foolishly assuming that the more recent technique is automatically superior to older, proven methods just because it's newer and flashier.
Besides, who cares how fake the dinosaurs look when you've got John Rhys-Davies and David Warner?? Special effects only exist to support the story and performances. If those are good, if you find the characters and situations compelling, then you'll buy into what's happening regardless of the quality of the effects. And if the story and performances are bad, then good effects are nothing more than a band-aid.