In a follow up to my previous post I've since been on Atlantis Adventure (Intimin's only Aqua Trax). To my surprise I have changed my opinion of it... at least partially.
What I was correct about is that it is not a water coaster. As it happens when I rode it there were neither any water effects or any water in the basin below the track. This makes the ride quite a surreal experience when it suddenly breaks to simulate a non-existent splash down.
The lack of water could have been because It's the winter season and they only run the ride with water over the summer. But I suspect a lot of the water effects that originally debuted with the ride have been removed. The water jets that used to trigger as the trains bank over the water weren't visible, neither were the nozzles on the drops. I also noticed some of the rides original theming had been removed. A shame but quite a common trend for an ambitious new attraction that's now nearly 20 years old.
However, as a coaster it's fantastic! The first launch is one of the best I've experienced. It's a combination of having small lightweight trains, a really exposed seating position and being followed by a really tight indoor top-hat with a glorious punch of airtime. Before the shock of the opening move has passed it immediately banks into two sweeping helixes, both over an actual lake and inside the castle caverns. The ride then enters its signature drop which is still a lot of fun even without any water.
The second half of the ride isn't quite as strong. the scene before the lift is static and could do with some actual effects (maybe there once were and these have been lost over time). The drops and turns that follow are good but lack the opening launch element and end rather abruptly with anouther faux splashdown.
Overall it's a good ride that shows a lot of potential. So I disagree with my original statment, I absolutely would like to see more of these built, just without the water elements and a stronger second half. And we sort of have seen similar rides built. Intimin's Family Launch Coasters (especially the jet coasters) have a lot of this rides DNA in them. But I don't think they've built anouther thrill ride with short trains and a punchy launch like this since (please correct me if I'm wrong). For a medium sized park that's happy with a 1,000pph headline ride a newer version of this could be a great investment.