Considering Montezooma's Revenge severely lacks in quality queue (like most of the rides in the park), I welcome a major redo.
Come on, do you really want to be in line having to hear that awful beeping truck ride from hell in Camp Snoopy!? There is no walls blocking out that crap! Then the ramp up to the load platform is once again exposed to SnoopyLand overlooking the Beagle's campgrounds of no return. Enclose it. All of it.
As for the overall ride building station, it has no charm. It's basic. And very underwhelming when you've got the giant Aztec/Mayan temple pyramid of Jaguar right there. So I say after 44 years, it's definitely time for a major face lift, botox, injections, the works...
I'm surprised they're even allowed to alter the launch due to the coaster being registered as historic. But a randomized launch system would be a nice upgrade.
As for effects... not sure if anyone ever noticed, but there was a light effect with the chandeliers during the launch/return. Dimming/flickering.
And yes, Jaguar also needs a massive overhaul & especially new human size trains