My copy arrived today....First thing i checked was the back cover which states it's an MPEG2 encode release. ( yuck )

Interesting....I feel they have DNRed away grain and fine detail...It still looks ok and many will find it acceptable but i feel it's lost the finer detail which should be present in HD films on Blu Ray.

Check out the trailer which is in AVC HD....More fine detail ( more grain than was probably present in the actual film print ) - I feel the trailer actually blows away the film on the disc in regards to fine detail and just looking like proper film even though it most likely has stronger grain than was present in the actual film print release.
Now it could be the trailer has also had slight sharpening applied but there is no denying the grain removal on the main feature.

This release reminds me of the movie The Descent....The MPEG2 edition has been degrained although still looks ok just nowhere near as good as the AVC encoded grain edition. ( Xylon can make a comparison thread from this one )

Disappointing to say the least and i think i'm going to be selling my copy....It just looks too smooth but i'm figuring they thought most people would be turned off by the grain. It's amazing that classic fabulous films like this get such bad treatment and i am really disappointed.

OK, I lucked out and found this on the shelf at a video store for rental. After skipping through the blu-ray comparing it with the last dvd release this afternoon, I think FoxyMulder actually understated how poor the new blu-ray transfer is, especially when compared to the (last MGM) dvd release.

The color saturation is significantly toned down and leans more towards cool blues on the blu-ray compared to the warmer and much more natural colors of the dvd. Fleshtones take on a cool, almost pallid look on the blu-ray version. More importantly, significant fine detail has been lost compared to previous dvd releases (including the old non-anamorphic Criterion dvd), no doubt due to digital noise reduction/smoothing.

I can't do screen caps but a good example is comparing the beginning of Chapters 3 and 5 (both the dvd and blu-ray are chapter marked at the same spots through the film) where you can directly compare a portrait framed shot of Dr. Chilton talking while holding a pen and an extreme closeup of Jack Crawford's face between the blu-ray and dvd. Yes, film grain is "washed" away along with the tiny details in the actor's faces.

The color timing changes on the blu-ray work to some extent in shots such as the Lecter prison scenes where the feeling of the cold, damp surroundings in Lecter's cell is better conveyed, but for much of the rest of the movie, especially well lit or daylight scenes, everything simply looks unnaturally desaturated.

Of course, the added resolution of blu-ray over dvd on larger screens will bring out the drawback of the dvds smaller resolution, but imo, I preferred the dvd over the blu-ray by a wide margin on a 1080p 50" screen using a crappy old Toshiba 6200 dvd player (vs the Panny BD30).

A very disappointing no buy for me.

T.B.