Well, I believe that the original HN was better than the new style.
First off, I feel like the spawns are too close to each other. In the original Hell Night (for those of you who don't know), you spawned in with a parachute and you landed in a HUGE map, and I mean a map so large it occasionally took minutes to walk/run to another location with loot. Sometimes you would encounter an opponent within the first few minutes, but most of the time you didn't meet until after you searched the immediate vicinity for items such as food, armor, and weapons and the player tracker was enabled. With the new version of the game mode, you spawn directly on the ground with the ability to track other players right off the bat, resulting in a skirmish where players with kits would likely triumph at the start, leaving those without kits no hope of being able to get ahead and stay alive.
This leads to the next part of the game being extremely short. In comparison to the original Hell Night, some games may have lasted anywhere from 10 minutes to an hour. In my recent experiences, the new HN lasts maybe 10 minutes, and that's if only the players with kits got into intense standoffs with other kit users in the beginning. I feel having a larger map would result in longer matches, with teams being able to actually act like teams and plan their courses of action to hit specific areas with the best loot, instead of just going after the nearest player to gun down.
As with team size, I believe having the original four person team would be better as to having even more intense battles, but of course this would vary on how many players are actually in the game at a time.
Anyway, this is just my opinion on the new Hell Night after two matches, so as I play more often, I'll update my thoughts on this page. Thank you for taking the time to read over my rant, and if you have any counter-arguments, I'd be open to hearing them in a polite manner.