Well, us mere Americans finally got our copies and I just finished watching it.
It's not quite as bad as I remembered, but it doesn't reach renewed favor like Enemy of the World did. The plot is fairly straight forward with an atypical brainwashed human colony secretly operated by giant space crabs for the sheer sake of feeding off of poisonous gases. The most fun from the story is The Second Doctor and his companions working around the brainwashed colonists (aside from the one guy who is called mad for spewing the truth), although it is interesting to watch Ben become brainwashed and then slowly regain his sanity. As I recalled before, the best part of the serial is the creature design for the Macra themselves and in animated form, they look spectacular.
I was surprised to see that the animators didn't directly reanimate one of the surviving clips that showed Polly scream her poor head off while running her hands up and down Ben. Instead, the moment is rather low key with her simply screaming at the attacking Macra.
On the plus side, the animation itself is largely good and certainly better than some of the previous efforts, particularly in regards to character movements. Some of it is still a bit stilted, but I largely didn't mind.