Mounce has revised his classic 1977-commentary. All the merits that the 1977-edition had is retained in the new edition. It is still a careful and well-written premillennial commentary with excellent attention to the text and its use within Revelation as well as the allusions to the Old Testament and other apocalypses.
However, the 1998-edition does not deal adequately with the last two decades of research as regards genre, structure, and the use of the Old Testament.
In my opinion, the 1998-edition is not “a rather extensive rewriting” as claimed by Mounce (p. xvi). Newer commentaries are mostly quoted in the notes, which is of course convenient to the reader, but fails to integrate the insights from the other interpreters.
Nevertheless, Mounce’s commentary is still one of the best conservative commentaries written in English and should be in to the serious student’s library.
See also my published Danish review, which is available here: Anmeldelse af Robert H. Mounce, The Book of Revelation