When I first saw the new Millennium Falcon, I thought it was just a repackaged version of the one that was released in the mid to late 90's. I'm glad that I took a closer look because Hasbro has added some nice new features and made some improvements over earlier releases.
As a collector (i.e. big kid ;)), I've always liked the Millennium Falcon toy. But there were a few things on the original and the 90's re-release which bothered me. First was the fact that it is rather difficult to get figures into the cockpit. There's not much space in there and the cheap plastic hinge used to open/close the cockpit cover always seemed kind of fragile. I was always afraid of bending it too far because the plastic would eventually get weak and break. And remember how if you 'fly' the ship upside down the cover over the main compartment would fall off?
Well, I'm happy that the toy designers at Hasbro have fixed these problems. The new cockpit has a redesigned cover that flips up (instead of sideways) on a more standard peg hinge. The control panel sits inside the cockpit cover and no longer has a divider to separate the left and right 'seat'. This makes getting Han and Chewbacca in and out of the cockpit much easier. The new hinge should also be more durable over time, although you must be careful not to flip the cockpit cover up too far. They also added strategically placed tabs on the main compartment cover so it will stay in place even when the ship is upside down. It takes a little bit of effort to get the cover on, but it's not too bad.
On my 90's re-release Falcon, I discovered a problem with the rear landing gear. I had stored the ship for a few years. I got it out recently and pulled out the landing gear. The plastic tabs used to lock the rear landing gear into place had been pushed in for so long that they no longer popped out far enough to securely hold the gear out. Hasbro must have recognized this problem because the new 2004 version uses spring loaded tabs in the landing gear which shouldn't have this issue.
One of the best new features of the ship are the lighted engines. This is what caused me to buy it. They look really cool (especially at night) with the bright blue lights. The new 'fly by' sound effect enhances the visual effect of the lighted engines. The new launching missile is another nice feature. You can load the red missile into the front of the ship and press a button to fire it. Firing the missile also turns on a missile launching sound effect (nice!).
The new sound effects are mostly good. Besides the 'fly by' sound, you also get 'start' (which sounds like the engines starting up and then switches to a cruise sound; the engines also light up), 'burst' (which sounds like the hyperdrive turning on, followed by cruise sound; the engines light up for this one also), and 'cannon' (which sounds like the laser cannons firing and causes the red cannons on the front of the ship to light up). I don't really like the 'cannon' sound and prefer the laser cannon sound from the 90's re-release Falcon better. But that's just my opinion.
The only other thing I don't quite like about the ship are the small pegs used to secure the ramp in the closed position. They are smaller than the ones used on the 90's re-release. It looks like they might snap off if you're not careful. Only time will tell if this will be a problem.
Overall, I really like this new ship. Hasbro did a good job adding new features and correcting problems the old versions had. It is a great looking ship/toy. Whether you had an earlier Millennium Falcon or not, you will enjoy this new 2004 version.