It's been awhile since I've tried to play this game and was just wondering if there was a better way to play the game now.
Have any source ports came out, any mods to make the game better, etc.

I have been looking into something called BloodCM but I don't know how accurate it is compared to the original.

Sadly no, since the source code still remains unreleased.

BloodCM ist the only worthy alternative besides the original DOS version right now until gdxBlood will be out.

Source port BloodGDX is out. Beta, but works already well. Download and info page: http://m210.duke4.net

Not a source port, but it's definitely more than what we're ever likely to see from any official channels at this point so it's hard to see any downside (unless anyone representing Blood in an official capacity tries to impede his work but I don't see that happening any more than I see them releasing the source code within the next 30 years).

Hopefully he can work out the issues with the sounds, but the performance otherwise is excellent.

It is a source port achieved with reverse engeneering.