As for being respectful goes, I think this is the only movie where the Director didn't embellish the Aliens with additional life cycle features. It's just the core egg, facehugger, chestburster and adult Alien stages. There's a Queen (added by Cameron) and we see the birth of the Predalien (Non-human hybridisation added by Fincher) at the end. Anderson only included life cycle features that were extant at the time - he didn't add to it himself.
I do agree. Except for the ramping up of the life-cycle's speed, I would concur that AvP was very respectful to the Alien species.
However, AvP respectful to the Predators? Not so much. The terrible changes made to the Yautja facially, to the bulky armor, to the ridiculously long guantlet blades, to the criminal change of the Predator ship interior from the steamy, ancient and tribal, wonderful design established in "Predator 2" to a cold steel, more human technological design in "AVP". Nope.
At least the Strause brothers tried to bring back the old designs where they could in the sequel, when developing the Predator homeworld etc. "AVPR" was much more respectful to the Predators than "AVP".