Graphics - good. The designs make the game feel like Sonic 2 from parallel universe - themes from the first game were continued, but in a different direction from real Sonic 2. There are lots of colors, even though I sometimes wish there were more.
Controls - awesome. Super Peel-Out is an awesome move and the motorbike Spin Dash is unusual.
Music and atmosphere - I don't know about you, but Japanese soundtrack... kinda sucks. Don't get me wrong, it's full of awesome tunes, but they don't fit the levels really well. Bad future don't really feel that bad. Contrast, much darker american soundtrack. I mean... man, Quartz Quadrant, Bad Future... man... And, the game with Japanese soundtrack feels just wrong. It doesn't feel like Sonic. It feels too Japanese. Sonic was always made for western audiences.
Intro and outro - really damn awesome. I wish they could provide them in such quality back in the day on the real Sega CD. Oh well, hardware limitations and stuff.
I played Taxman's remake on Steam. The only complaints I have about it is that
1. You can't change the controls
2. Intro and outro lag for some reason.
I used the Sega-CD oddball spin dash and smooth filter. As you can already tell, I played with the NA OST.