Giordano - I know what you mean by the pink shirt westerns that John Wayne made in the '70's. They were awful.
(Must not overlook "Monte Walsh", Lee Marvin, Jack Palance. Great western.)
The Coen Bros. wrote their script from the original book (which I have not read) and has a different (I think better) ending than the John Wayne version. Also, a lot more humor than the original movie. Matt Damon was great. 10 times better than Glen Campbell in an awkward part.
The outdoor photography in the original was better from a postcard point of view but this movie was somehow more natural.