Interesting... the screenshots look great (really colorful!), but we'll see how the game turns out. Hard Reset was fun though, so hopefully this will be too.
It's also nice to see life from 3D Realms...
As for the racist/sexist stuff, we'll see. I would be fine if they got rid of that stuff, but it will be interesting to see if they keep some of it or not -- it was controversial when the first game came out, and that kind of stuff certainly still would be, for sure. Would it actually help your game to get that kind of press, or not?
As for the original game, I have it, but never got far; I found it to be a really, REALLY hard game, and gave up before managing to get through the first level. I know I'm not great at FPSes, but that one... argh.
Hard Reset is very oldschool and fun. Bassicaly 90s shooter with modern graphics. It's the reason why I think they might be a great fit for Shadow Warrior, at least gameplay-wise. No idea if they will be able to pull the humorous side of it as well.
It's not really a '90s shooter, it's linear, has a modern checkpoint system, etc. It is somewhat more oldschool than most modern shooters, but some of the major design elements are modern.