I think you hit the nail on the head, Lester. 1981 was a rough stretch where studios had to come to terms with what to do with older Hollywood star vehicles in a film realm rapidly swinging towards a more earthy post-70s style...right-wing jingo fantasies and mindless pop-music driven fluff aside, of course.
Looking back, I think I like the remake, with Wesley Snipes as Lauren Bacall and Robert DeNiro in the Michael Biehn role, a little more.