I was speaking about Paramount's older films in general, not their HD DVDs, which are almost all new films. Indeed, the older films "Sleepy Hollow" and "U2: Rattle and Hum" are quite grainy (I know U2 was shot that way).
Watching HD broadcasts of older Paramount films also reveal a lot of print damage, grain, etc. So when you compare them to Warner films of the same era you have to wonder.