Watched the whole disc last night and went back to a couple scenes.
First off, hot DAMN it's a great looking disc. The audio betrays its production value a little, but overall it's wonderful. There were a couple moments during SOTF and TIL where the sound design and lighting came together in a most cinematic way. Most impressive. I would say that the most dramatic improvement is simply being able to read the faces, eyes, and minute expressions of the characters - many of the scenes took on a whole new level of emotion. The tiniest nuances in facial expression, the welling of tears that simply weren't visible in SD, really added a lot. We had just recently watched these episodes in SD, so we were very keen to point out many things we noticed. I only wish I had taken notes.
In Farpoint, for example, I've seen that episode countless times but never before noticed the model of the ruined old city. While I'm sure many others have noticed it, I have just never seen it as anything but lumpy brown hills next to Farpoint Station in SD. Just that in itself was a revelation and gave a sense of scale and proximity to the episode that I never had before.
Also, did they change the color of the gold uniforms throughout the series? Perhaps they just faded by season 5? All I know is that the change stood out and I never noticed it before.
I'm not sure that I can point out much else about the visuals that aren't already apparent in the screenshots circulating around the web.
As for the audio, I was really struggling between the 2.0 and 7.1 mix. My setup is 5.1, so I'm sure I can't comment on the precision of the 7.1 mix as well as others, but the most noticeable differences were between Farpoint and the other two episodes. Farpoint's audio showed its age and budget, there's no way around it. I would have to agree with some others that the 7.1 mix is too loud or too active in the surrounds. I found myself frequently distracted by the surround activity, sometimes drowning out the dialog in the center channel. However, when listening to 2.0 with and without DPLIIx, it was much better. I think if they turned the volume on the surrounds down just a little bit and spread the dialog across the front stage a little more, it would be the perfect balance.
Also, LFE in the episodes was rather inconsistent - in particular every scene where they jump to warp or drop out of warp. Sometimes the hum and charge up shook the room, other times it was impotent. Again, the biggest difference was between the pilot and the later episodes. These differences could just be the way the episode was designed and won't ever be changed...
I don't know if this sampler represents their best effort or if they are looking for feedback, but it's clear that the video needs nothing, the transfer is gorgeous. The surround mix feels too aggressive for the content, though, and far too inconsistent LFE. I'd like to enjoy the 7.1 mix, but the 2.0 just feels much more balanced and appropriate (probably because it's the original mix LOL).