The "Look"

As far as the costume and such I feel they very nearly nailed it in the '94 film. The tall collar, the layers (a la Kaluta), the slouch hat, the gun harness and the absence of red lining in the cloak. I also applaud the black shirt as opposed to the white, cuffed shirt depicted on the old covers, especially those by Graves Gladney.
What I didn't like were the pearl handled, chrome .45's and the ubiquitous scarf. I know the scarf is associated with the popular image these days but I've never liked it. And shiny guns, looks good on film but seems a bit silly for a crime fighter who sticks to the shadows.
All in all, I have always been impressed with this version of the character. I know there are purists out there who will argue with this but from an artistic and stylistic viewpoint, this movie hit the mark.