Yeah, it's definitely worth watching with hindsight. You can be much more sanguine about how it departs from the Classic tradition, because that doesn't really matter any more, but you can also enjoy spotting the things it did which were picked up by New Who a decade later.

Poor old Seven - but I'm so glad he got a proper death scene after all. It could so easily not have happened for him - just as, indeed, it never happened for Eight either.