Played this. Was kind of afraid to, as I worried that it wasn't going to live up to all the praise from reviewers and fans. It does, though. It's not a carbon copy of the old Konami beat 'em ups, looking, sounding, and playing a bit different, but those differences don't detract from the experience or make it any less faithful to the franchise. The Konami games of old exude a sense of dogged dedication to the design in spite of an unfamiliarity with the license. The designers didn't totally "get" TMNT, but they did their homework to make sure the game felt like a faithful extension of the franchise.
Shredder's Revenge is just as dedicated to a quality product, but feels like it came from insiders. It's not just faithful, but enthusiastic in its reverence. You imagine the creators sitting around a table, spit-balling ideas, suggesting general concepts and set pieces and cameos from the show and bringing all their geeky fan canon fantasies to life. This wasn't an assignment from the corporation that bought the license... the makers of Shredder's Revenge wanted to make this. Badly.