I got mine on Friday, and here are my thoughts -
Of course, if you have TWS version, you already know - this is an impressive piece. The wings add so much dimension and scale to the figure, and really brings a presence to the shelf. The redesigned wings and backpack are a huge improvement over the previous design, and while I understand that people wish they could do even more, you're going to risk their look. I suppose you could add ratchet joints to the individual wing sections to allow them to bend, but that wouldn't look good. I'm completely happy the way they are. I don't even miss the lights - I don't think they were that necessary to begin with, and the addition of the redwing mini-figure with stand more than makes up for it's loss. The outfit, overall (with one exception below) looks fantastic, articulation (again, with one exception below) is decent, although I would've liked to be able to hold the wings even at an extreme angle...not sure that would've been possible, though.
Ok, that was the good, now the bad. I don't really like how they did the chestpiece. While the pants have all the complicated buckles and straps as separate pieces, the chest is all molded on, which looks fine from a distance, but up close, you can see the two different styles above and below the waist. It's exactly how they do Cap's stripes, but for some reason, it's a lot less noticeable there, possibly because it's used so sparingly. It's a little disappointing that they took the shortcut at this price point, and the stiffer material used to make the chestpiece also significantly hampers chest/waist articulation, which is a bit disheartening. Maybe there's a reason, considering it's in the same area as Cap's; but it's just SO noticeable.
I also never really like reuse. Mackie's sculpt is fine enough, that's not a big issue, although for some reason I think the eye paint job is better on TWS version by a smidge. For me the big misstep is using the same guns without patching the hole in them...they're just SO noticeable. Not a fan of that cheap step.
Overall, between the two figures, this one is the better one. The backpack is better and redwing is cool, and I think the design is overall more appealing. But the chest and reuse leave a bit to be desired.