I've never cared much about the wampa one way or another. But I have to say that I do like the original Emperor, even if I view the later Emperor as the "real" one. Just the same way I like Brian Cox's "Hannibal Lecktor," Julianne Moore's Clarice Starling -- who is actually closer to the Starling I saw when I read the books, but I digress -- et cetera. It's a good performance and a good visual effect. It's also a neat might-have-been, when you compare it to the gleefully cackling over-the-top nutjob that Palpatine evolved into.
Edit: Oh, yeah, I'm glad you enjoyed it, Adamwankenobi. Now you've seen what everyone's been raving about for 25 years.