I watched it tonight and all in all I think it looks great. While the transfer is non-anamorphic, It does not have the look of and old LD master. The colors are deep and vivid and detail is sharp and clear. I did not notice any alaising artifacts (jaggies) that mar many older transfers, and the image was mostly smooth and clean without any noticeable edge enhancement. Black levels where very solid. Despite being non-anamorphic, It looks to me like a new transfer. Aside from 16:9 treatment I really don't see how this disc could look any better.
If you like the movie, You really can't go wrong picking up this disc.