I am going to give this a thumb's up. Like positronic, I prefer the original pulp novels (and really, you could spend a few decades just doing comic book adaptations of all of them!), but this take on the character is (so far) acceptable. I don't really like the mystical slant on the character, but so far it is not too obnoxious and can always be down played in later issues. As positronic said, the name checks for Moe Shrevnitz and Harry Vincent were welcome.
Actually my biggest gripe is a scene where the Shadow is shooting some foes and they are depicted being shot multiple times (both torso and head shots). No, no, no. The Shadow is a better shot than that and he does not waste his limited ammunition. One head shot, and no need to shoot the bodies any more. One shot through the heart and no need to blow away the head as well. He should not be depicted doing violence for the sake of a colorful splash page. He is an efficient killing machine. The pulp novels have regular scenes where he runs out of bullets and needs to use one of his back-up guns (I think he always carries a minimum of four--but if positronic corrects me, I accept that I could be wrong). He doesn't waste bullets when he can help it.
But that is a trivial gripe. Like TheReader said, sign me up for issue #2!
"Age is not defined by years, but by regrets....I'm an old man now." --The Fighting Yank