I know I'm late in the game, but I finally got The Wizard of Oz blu-ray today. A friend of mine who works at Warner's got me a copy with his employee discount for $36, shipped. But it took almost three weeks to arrive from the time he ordred it.
Not to repeat what others have said, but it really is like a veil has been lifted off the film, isn't it? This is their, what, fourth or fifth attempt at restoring the film using the three-strip elements, and they finally got the brightness and contrast perfect. It's like you can see, unobstructed, all the way to the back of the sets for the first time. It's funny, the thing that really stands out to me is that I notice the large backdrop paintings, which I never have in the past; nuances of color in them that I've never seen before. And I think the color is far more consient than it's ever been before. (But, boy, is the mesh on the Lion's lace-front wig ever noticeable in his closeups!)
After (finally) seeing this, I am so pumped for "Gone With the Wind."
Just noticed something else, which really has nothing to do with the new transfer... During "Off to See the Wizard," after they meet the lion, someone walks in front of a light in the background, or a light is turned quickly off and back on. It's right on the words, "whiz there was," right before they cut to them from the back with the Lion's tail swinging back and forth, on the left side of the screen, at 52:59. Never noticed that before.