I recommend it just for seeing the visual effects - all of the animals and the scenery look completely realistic. I agree with the poster upthread - it's like an Attenborough documentary. It is truly amazing and certainly makes some portions (e.g., the stampede, and the fight at the end as Simba reclaims the throne) far scarier than the original, to the point that I probably wouldn't take kids younger than 8 or so. I got emotional and weepy watching it, but TBH I think that had more to do with nostalgia, and reflecting on losing loved ones as time as gone on since the original movie came out, rather than the qualities of the movie itself.
But also, that nostalgia kicks in because it's probably at least 85% a frame-by-frame reenactment of the animated version. There are a few things in the original that aren't in this version, and vice versa, but more or less it's identical. So if you didn't like the original, you're definitely not going to like this version.