This film is of course based on the much earlier play--The Beggar's Opera. I'ver never seen, and don't think there's ever been, a good version produced of Beggar's Opera, so I find it hard to compare. What I can say about THIS film is the following.
Pros:
1) Very good cinematography for this era.
2) Direction was excellent.
3) Music score was pretty good.
4) Sets were great.
Cons:
1) Acting overall was very so-so.
2) The singing didn't do justice to the music.
3) This updated version of the Beggar's Opera changed the script in such a way as to make everyone rather villainous from the chief of police to bankers. As a statement of anti-capitalism it failed miserably.
The cinematography was the best thing about the film. The movie has also been cleaned up rather nicely. It's hard to believe it's as old as it is.