I like their first album a lot, but actually I think We Are the Nightmare is still my favorite. I just really like the technical sound on it, I guess. And the fact that it still kept a fairly good sense of melody while doing it.
And honestly I like a few songs from Starve For the Devil, too...Sable Rising, Closer to Cold, and Beyond Forlorn (even though that one sounded more like Arch Enemy than Arsis). Though that album really did disappoint me overall. And I think every song has some kind of lyrical reference to James Malone's eating disorder, which was kind of weird.
I do agree that there's no reason to remaster their debut, though, especially if it sounds worse now. It's just totally unnecessary, and sounds like it was done purely for financial reasons. Wait...holy shit, does that mean Dave Mustaine is in the band now?!?