Can you explain more about it looking better? I can see difference, and have some thoughts but not certain what you mean specifically. One is twice the size, so visually it's hard to compare them side by side on my phone. In some ways I agree, but the newer art also has some better qualities.
The old art is more pixelated looking, especially around the edges. This makes each equipment piece more defined from one another. The old art is clipped out of images rendered on black background without an alpha channel. This results in darker edges, again giving more definition and perceived depth/shape.
The new art has an alpha channel so each part blends together, and with the background. It kinda makes it look a bit more flat and less defined, but on the other hand it looks much less pixelated and removes the jagged edges. Big mistake I made was using adaptive sampling on the re-renders, which makes everything look really blurry.
There might be a different way that equipment is being colorized, the newer one looks flat. Could just be the texture or lighting in the rendered art.
TLDR: In my opinion the Old art is more defined & dimension appearance, but pixely-jagged edges. New art has better texturing, and blending, but looks blurry and less defined.
The animations and most of the art was made by Comatose. I did a rerender / retexture in 2009/2010. In retrospect I should have spent a little more time dialing in this stuff before rendering. There are just so many thousands of frames that I think I just took each part, optimized the textures, cranked the anti aliasing up to high and let it rip because it took about a day to render 2-5 pieces.
I probably over explained this. But, I've thought a lot about it and learned a thing or two over time. A complete redo of character art is something I'd like to tackle one day. The easiest route is to rehash John's Lightwave scenes, in higher resolution, and some tweaks. That would mostly just take render time, but I suspect increasing the resolution would reveal jank though.