Gauntlet IV is actually an enhanced remake of the first game, recreating everything from the original arcade game and adding new modes such as Quest Mode (RPG oriented campaign) and Battle Mode (where players could face each other) and an entire soundtrack that wasn't present on the arcade game. Gauntlet IV is also the first home console version to feature 4-player co-op gameplay, unlike previous Master System and NES games.
Electronic Gaming Monthly gave review scores of 8,8,8 and 8 out of ten. Martin Alessi wrote, "Fabulous! This version of Gauntlet IV is absolutely awesome! Terrific additions have been made like a lengthy Quest mode and a blood-thirsty battle mode for a bunch of your friends. This game may get my vote as having the best music heard on the Genesis. It's orchestrated perfectly. And with the addition of being able to use the Sega Tap and EA's Four Way Play, the options are limitless".