Should it be remade? I think so
I'm glad I saw this movie recently on TCM. However, I don't think it's the masterpiece that many are saying. I think it just suffers from being unique, such that a competent remake (I say competent because as you know most remakes are not competent) could produce a great film.
Certainly the technology of today would allow for much better visuals, in colorful widescreen. This is a story that calls out for that, and I'm disappointed we're left with black and white, and TV dimensions.
Also, the opportunity would be there to correct one mistake and cast an American Indian actor in the lead.
Last, I feel that the story's emotion didn't really come across. It was more of an intellectual lesson, and unfortunately lacking subtlety in places. There should have been more background on the ex-reservation folks who just happened to show up at the right time, and it would have been nice to see more about the Civil War, and the Congressional Medal of Honor. Actually, it could go even further back than that. The opportunity is there to make an epic film in three parts: Life at Sweet Meadows, Lance in the Civil War, and then the events in this film.
Wouldn't you see it?