I'm writing this in response to the plea for a review; if anyone has seen it more recently, please chime in. I saw this a decade or two ago on TV, and remember rather liking it, but being disappointed that it didn't follow Sabatini's book more closely. It wasn't quite as weak as I'd expected from a sequel, and Louis Hayward wasn't as weak as I'd expect from a replacement for Errol Flynn. All in all, a reasonably good standard-issue pirate movie; sorry I can't be more definite than that. There was also a sequel to the sequel, based on Sabatini's _Captain Blood Returns_, entitled for some reason _Captain Pirate_, which I remember as being, surprisingly, somewhat better than this one.
Review of Fortunes of Captain Blood
