I skimmed through it. It succeeds by not being entirely faithful; it's adapted in ways that are much more appropriate to Python. But I think there are a lot of things (of value) which are lost in the transition... even if it does a great job of staying coherent. I guess that's pretty vague, but I think the minimalism of Lisp / Scheme gets you pretty far: the language is so strippe down that it's easy to get to the heart of what computing is.

One of the strongest things in SICP is that you eventually write several implementations of the language inside the language itself, and it looks just like the same language you were working in all along...