I have seen both the 1936 and 2005 versions of this film. Of the 2, the 1939 version is far preferable as it is a film about bravery, cowardice, duty, and devotion rather that a psycho-politico voyage about retribution, consequences, and punishment. The 1939 film is nonapologetic and does not need to be, as it is an exploration of one man's duty to friends and not a political statement.
I believe that the main reason this film is not given more credit is that it happened to be made in the watershed year of 1939, a year of legendary films, filmmakers, and stars. (Think "Gone with the Wind" and "The Wizard of Oz", among others.) The action scenes are as good as you can get. The technical direction is well done and the cinematography excellent. While the camaraderie is, at times, a little forced, it is probably fairly accurate.
The travails of the protagonist are straightforward and unimpeded by the burdens of political overtones or ethereal punishments for current retrospections on political transgressions and apologetic political correctness. I'll forego the 5.1 surround sound for the far better entertainment factor of the real "Four Featers" made in 1939
