The music was great - I used to have the LeChuck theme as an 8-bit chiptune on my old cellphone and it still rocked.
But the concept of a ringing phone has evolved. Originally, the ringing of a phone was supposed to attract your attention, even if you were far away. You wanted a piercing, obtrusive sound.
Today phones are carried around with you while you hang out with a lot of other people who are also carrying their own phones. Rings and alerts need to be unobtrusive, which makes older-style rings inappropriate. :/