No question about that! And to think it never even got a DVD release. Shameful! Yes, I have the Criterion laserdisc, too, which I had before the laserdisc box set came out.
Yes, I've had to content myself with the laserdisc box set of the Show Boat features and the DVD of the 1951 version. Supposedly the 1951 version was subjected to the Ultra Resolution treatment years ago (though never released that way) in preparation for the box set release. Maybe we'll see...
I saw Hans Christian Andersen on MGM-HD some while ago, and it looked wonderful. But there are at least a dozen titles here that would make exquisite Blu-rays. I just hope Warners goes that route.