while it may not be what 3SE fans would like, I think it will certainly please the 2097 fans, and of course the pure and pulse fans. As you said, you can't please them all, but the only real issue is the HUD imo. While it probably won't be exactly what everyone wanted, I think that with online multiplayer and superslick 60fps it will definitely be the closest thing to really flying those things.
And it certainly won't be anywhere near the misstep that was Fusion. Actually, I think this could be the game that makes wipEout really popular, which is a good thing.