Giving the Looney Toons a make-over for the next generation isn't a bad idea, but they don't look anything like the original toons (with the exception of Daffy). Moreover, Bugs Bunny, whose name is most synonomous with the Loony Toons title, has experienced the most dramatic change.

Why, oh why, are they all black and evil looking. Bugs has a smily, likable face. Now he looks devious. I don't know what else can be said about it.

To sum it up,

Redesign = Potentially good
Redesign to the point where the characters fail to have any resemblence to their former iterations, and have become seperate entities: Bad.