Short version: Overall, LOVE IT.
Long version: This, even on Cartoon Network, is SO close to its Japanese counterpart. I watched the original episode not long before the premiere, and everything was nearly EXACT. Everything from the song's lyrics, to the script, to the next episode preview…incredible. I never realized how much the original BGM helped it out, too.
Luffy seems now to be a MUCH better version of the 4Kids voice, as I see it. Colleen's done a fantastic job with this one. Zoro, I can see Chris is trying not to make him sound like Piccolo, but I can see the diffuculty now XD; Luci Christian I was unsure about with Nami at first, but she's sold me now. Ussop...Sonny is freaking hilarious, all the time. Sanji, no more Dr. Girlfriend! Eric does a nice job, although this one's a little different from both the 4Kids headcold that is David Moo, and the Japanese voice. Chopper, Brina's adorable, 'nuff said. Robin was the one that took the most getting used to. Like Sanji, very different from both voices, but very unique. Kinda reminds me of Mai from the Avatar series. Very informative and intelligent sounding, though a little inconsistent between speaking normally being all "zen" to the crew. Oh and for the songs, Vic and Kristine Sa did a pretty decent job of dubbing the songs. I can safely listen to both tracks without touching a button.
Couple other things, the single edit I noticed was the one injured guy not having the blood dripping from his mouth, but that's no big deal, (Mike that was totally you as the dead guy XD;), and obviously ZoLo will be fixed for the DVDs. There were a LOT of Japanese puns in this episode, and my kudos to Eric Vale again for getting around them with his script writing. I don't know if some of these things were on purpose, but Luffy saying "BU-LEEVE IT!! 8D" left me rollin' on the floor...and hearing the monkey pirates scream "AYE, AYE, CAPTAIN!" made me wanna break out into the Spongebob theme. My favorite joke had to be "...nice make-up?" near the end.
Mike, Bevins, Clyde, Eric and everyone else at FUNi who put their blood, sweat and tears into this reinvisionment, my thanks go out to all of you. You most certainly impressed me, and I totally can't wait to see more.