Years ago Marco Polo released several disks of Godowsky's music, originals and these arrangements. If we take an etude to be a piece to teach and train a particular skill, I'd say he did a good job. They shouldn't replace the originals, but if a pianist wants to show off, there's hardly better material. Nice playing, by the way.
My favorite Godowsky story: he was being interviewed and asked: who are the greatest living pianists? His answer: "The other one is Franz Schmidt." Schmidt is one of my absolute favorite composers and was well known as a cellist and pianist. For Godowsky to name Schmidt next to himself was something!