Unfortunately the SyFy adaptation reeked of cheapness to me. Plot-wise better than Lynch's movie, but aesthetically terrible, and with some pretty bad acting too.
Eh, yes and no. A lot of the outdoor scenes and effects look pretty poor, presumably due to TV-level funding, but the interior set design and costume design are excellent IMHO. Also, the only bad actor was the one playing Paul; I thought everyone else was fine.