But the cost was that the movie (and I'm speaking only of the movie, since obviously I haven't seen the weekly incarnation yet) came off as less imaginative than the original. (Well, at least in terms of the technology. I'd hardly call the original show imaginative in terms of characterization or storytelling.)
I write it off more to "cost" issues, as in money. The movie looked like it was done on a shoe-string budget even with it being turned into a Ford commercial. The footage above definitely looks like they have a bit more dinero to play around with (see the gimble in the KITT cave).
My only quibble with the transformation sequence is how did they get from the flatbed into the driver and passenger seats? I can buy the concept (though it does kind of bring up the Odo mass morphing issue from DS9; can he turn into any Ford vehicle of any size), but it could easily go from "neat" to "corny" if they overuse it.