Watching the youtube of the Nights in White Satin ride, I was not that impressed. Granted, I didn't have on the 3D glasses and was not actually there to be fully immersed in it, but it just seemed kinda boring.
And, if it is being done by the same people, I don't think it'll end up being some cheesy haunted house. I see it more like a Haunted Mansion (disney world) type place, with even better technical effects. Scary for kids, kinda cool for adults.
Its really something you have to be there for. A camera can't capture the experience as it was inside, the feel, smell and music just encompass you entirely.
I don't think it'll be cheesy, i've been through several sally attractions and all of them are done very well, but in the end theyre all haunted houses with a "spook factor" as their driving force. NIWS was different, it wasn't scary just very surreal and of course...im a bit biased since i love the song. I'm even more excited about the grand opening now in anticipation of seeing what all changes have been done to this area, whether its open or not.