Following the basic story from the boring original, the remake has better acting from a good cast, better special effects, Shawnee Smith in a cheerleader outfit, Kevin Dillon strutting, Shawnee Smith in a cheerleader outfit, a smart script, Bill Moseley appearance, Shawnee Smith in a cheerleader outfit and most importantly: it's a lot of fun.
After a highly entertaining introduction to the main players, an object from outer space crashes down in a field near a hobo's shack. The hobo goes to investigate and ends up with blob goo wrapped around his hand. Some local teenagers take him to a hospital and that's when all Hell breaks loose. Before you can say "Hockey season ended months ago." the blob has grown bigger than Rosie O'Donnell's skull and starts killing everybody in town. Not to worry though, because Kevin Dillon and his trusty motorcycle are here to save the day...except for the few dozen people who get killed by the blob including some really awesome kills like a dude pulled down a sink drain and that prostitute from "Magnum P.I." getting crushed inside a phone booth.
Everything that was awesome about 50's creature feature movies is in this movie and then amplified with pure 80's cheese. It's a blast! The only thing that could have made it better (besides a bigger boss fight at the end) is if it'd been set in a college town and the blob invades a party where a bunch of hot naked chicks are running around topless. Highly recommended.