This movie is a retelling of the first fifth of the original series, specifically the base rivalry between Takumi and Keisuke.
The pacing of this movie works for the way it is. Nothing feels to rushed but the specifics of Natsuki's story is more hidden this time. Other than that, fans of Initial D who have prior exposure know what to expect. As for the final race, if you play the arcade games, the pace of the race works in accurate conjunction to that so I can't really make an excuse it feels to rushed. I mean, most players can beat Akina in about 3 minutes.
As fans of the original TV series are aware, the voice cast has entirely changed and I felt it was unnecessary. I mean, Gundam for the most part very rarely changes the cast and neither has the new Evangelion series. The cast are still active and can still play. The only name I can recognize is Miyano Mamoru, most famous as the voices of Light from Death Note and Setsuna from Gundam. I say his performance works for what it is but I think it is the voice direction as opposed to his abilities as a performer is what I have an issue with. There are instances where you can get a reaction out of him as opposed to saying you fucked Natsuki or whatever. I felt there were instances where his reactions were completely out of character, or at least what I am used to.
Bunta's voice feels weak compared to Ishizuka Unshou's original performance. The rest of the cast to me lacks the personality of the original TV series voice actors.
And in other sad news that I find criminal. The Eurobeat and MOVE are no longer part of the soundtrack. Try to imagine a Cowboy Bebop reboot/remake without the jazz and that's how some Initial D fans probably feel. Half of the music is heavy bass with weak techno cords and the other half is generic J-Rock. I say viewers who have no prior exposure to the original series will have no issue with this factor but to me, the Eurobeat and MOVE is part of the identity of Initial D.
As for the character design, it is sharp and crisp and more in tune with that of 4th to Final Stage. As for the races, I felt it was too over reliant on above and below angles and close ups. I felt this ruined Takumi's inertia drift he did against his first race against Keisuke. In the 1998 series, granted the quality is not that great, but the set up and execution made it exciting. I felt this series lacked that. There are instances it works, and instances it doesn't. Another issue is the frame rate. With the upper angles, the frame rate felt rough but the lower angles the frame rate was much smoother.
Overall, I say long time fans of Initial D will have mixed feelings for the right reasons. I say viewers with no familiarity will be more open minded to the changes and may enjoy it.