I thought long and hard before parting with my cash for this, especially in light of the debates about the effect(s) of the remastering.
Like others, I have the original vinyl, the first batch CD and now the 2008 remaster (I missed out the 1994 "definitive" remaster). Having now listened to the remaster several times, the time has finally come to put something (hopefully) coherent to help others.
The music itself has been considered in other reviews and other than to say I like the album musically (a lot) and for that alone would have awarded 4.5 stars. I'll leave the music aspect at that.
So, to the remastering. In my opinion, some of the the criticism aimed at Nick Davis' remastering is justified. On the plus side, there is a much clearer separation of instruments in the sound stage and the stereo stage is significantly improved compared to the original (vinyl and CD). The bass and mid range generally have more depth and Peter Gabriel's vocals definitely sound clearer.
Unfortunately, as others have suggested, the top end does, at times, sound brittle and "toppy". I have listened to this on a variety of players to get a good (and fair) idea of whether it is a playing equipment issue, or if the toppyness really is there. Even on the "warmest" set up I tried, there were still moments where cymbals and high-hat sounded crashy instead of being rounded. Most telling are occasions where the remixing makes the sound of acoustic guitars akin to listening to a bright harpsichord.
It may or may not be of interest that Nick Davis also remastered Marillion's "Live From Loreley" 2-CD album which also suffers from excessive brightness. Coincidence? I don't think so.
Taking into account the above, is the 2008 remaster worth buying? On balance, yes - but with a proviso. If you have hi-fi equipment that is bright, this remaster may not be the most enjoyable listen - even neutral equipment may reproduce too bright a sound. If you have "warm" equipment, you should *just* be ok. Because of the excessive brightness, this falls between "ok" and "I like it" on Amazon's scoring system; hence 3.5 stars.