Although Dickens' tale is "Westernized" (it's hard to imagine Scrooge getting into fistfights and high noon shootouts as he does in this movie), it works here, thanks to the performance of Jack Palance. He also does a decent tale of playing the redeemed and transformed Scrooge. Some versions have Scrooge convert too readily, or the folks he previously screwed over accepting him too easily.
Palance's Scrooge "converts" just slowly enough that it's believable. Also, the townsfolk are at least initially reluctant to accept his transformed version.
There are also some interesting variations. Scrooge actually gets to see his future self's last few actions in life (most versions just kill him off-screen, leaving Scrooge to face his corpse or hear people talk about how he died).
Weak spots include some really bad dialogue ("You're my favorite nephew" - "I'm your only nephew!") and mediocre casting of the first two Spirits. There's also a subplot with the last person Scrooge ripped off, Sam Benson, which awkwardly interrupts the Spirits' visits.
Overall, though, the movie's strength lies in Palance's performance, and it's a great one. I'd say he's the best Scrooge (albeit an American/Western one) since Sim.
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