Like a bad Xerox copy, this port amplifies the flaws in the original.
The graphics effort in porting the game was admirable. There is no easy way to downmix 256-color graphics with multiple palettes to a 16-color format -- in a quarter of the resolution. So the fact that the graphics look as good as they do is impressive. (Note that I wrote "as good as they do", not "great".)
Two fighters can battle via ComLynx.
The original game had very little to like about it except that it was arguably the very first fighting game with digitized sprites (human actors or otherwise). Mortal Kombat came out two years after the original Pit-Fighter, so for two years, Pit-Fighter was it. Unfortunately, the actual game itself was flawed: The computer AI was fixed at a difficult level, but the AI had holes. So if you didn't "get it", it was insanely difficult; if you "got it", it was rediculously easy.
The sound is truly abysmal. Very short, very repetative music that irritates within 20 seconds. And there was absolutely no digitized sound whatsoever, which seems unexcusable.
The Bottom Line
All Lynx coin-op ports have a reputation for being among the most accurate ports to any system; the positives are accentuated, adapted, and enhanced, while the negatives are downplayed. Pit-Fighter is no exception, except there was very little to be positive about. Unless you have an overwhelming desire to fight a friend over ComLynx, there is no reason to buy this game.