I do love Valhalla, and would certainly welcome a further refurb of the effects. I'm sure there would be better, more sustainable ways to achieve the original illusions these days.
The audio would certainly benefit from re-doing. With the amount of effects and sheer volume of moving water it's for the most part inaudible. I had an argument with Joel over this the other day, as I genuinely had no idea there was meant to be audio throughout the ride. I thought it was isolated the certain scenes!
I do sort of like the hit and miss nature of it, in that every time I ride I seem to discover something different (I'd never even heard of the laser floor until I read up on it following this thread, and feel somewhat honoured to have experienced the ring of fire!). It has all the right pieces,
with the possible exception of a reliable and well executed ride system. They just need to connect the dots.
Sadly, the ride really does scream GT. Build it grand and worry about the implications later! It really isn't an attraction suited to the Pleasure Beach (both in investment and climate!). The amount of money which was thrown at it is staggering, as is the continued operating overheads (over £100,000 per month IIRC?). That PB manage to keep it running to the standard they do is pretty impressive, given the financial troubles they've been up against Amanda first took control.
Seeing it as originally intended would probably change my views somewhat, but in its current condition I can only echo the comments of others, that there are better water rides out there.
An original spec Valhalla and the Mack multi-lauch for 2018 would certainly set the park off nicely