Generally a very good effort but I do have some issues.
The most important positive thing is that it is an effort to replicate the original experience generally, not improve on it. It is the complete roadshow presentation (which has never really differed except for a cut TV version that is long forgotten).
1. COLOR: I have seen this film many times in 70mm (Eastman color prints) and even more in 35mm (dye-transfer Technicolor prints). The color balance is just not right. Many things have a gray look to them that would have been greenish, brown, or slightly blue in the original. Reds stand out against this gray very well, but the color just isn't quite right. To be fair, previous video releases have all been entirely too orange, and the Blu-ray is an improvement, but not perfect. The original 35mm prints define the ideal look of the film for me. [I should note that it has been years since I saw this film in an original IB print so my memory may be betraying me.]
2. SOUND: The original "Todd-AO" style mix has been altered to a more modern 5.1 sound. This means that the dialogue is now centered. The original 6-track 70mm mix had a wonderful 5-channel front soundstage with voices precisely located with the action. ["We should be in Jerusalem tomorrow night." should move to the right along with the action on the screen.] It is now flat.
The music playback certainly does justice to Miklos Rozsa's finest score, one of the real achievements of motion picture music.
[BTW: I have a magnetic tape recording in 4 track stereo of the film that I made in 1961 from the film sound track as a base comparison for my comments about the sound mix, so I am quite certain about the directional dialogue.]
Given that this is very likely the last time this film will be given any attention by the studios, we can certainly appreciate the many fine things about the Blu-ray, but is is unfortunate that it does not come closer to the original look and sound of the film.
I also note with some sadness that new 70mm prints have not been made. The film is expected to be shown digitally but so far, only one has surfaced, at a film festival in NYC. This film is one of the great theatrical experiences of all time. It is a shame to see it have such a weak final sendoff into its digital eternity.