I watched the first one not too long ago. I forgot how quick the jobbers and lower midcard guys were tossed out. Eddie Guerrero looked really good in it, and he was a newcomer at that time. Hogan acted like a huge dick after Randy Savage won the World title. He could've turned heel right there that's how much of a little bitch he was acting.
As far as the camera work, I thought it was fine for what it was. They had 3 commentating teams for each ring, and really a battle royal at the start of it is just one big blur of bodies anyway. Overall though I thought it was a fun concept, and I always liked seeing guys who rarely faced each other square off in it.