I still love this film. The first time I saw it it was just amazing, and it became a bit duller on consecutive viewings. Then I found out the movie works as
the hallucinations of a mentally ill man, who thinks he's from the future.
And that's actually what makes the movie good, in my eyes.
How does this compare with the HDDVD? I thought it was great with how intentional the film looks. Nice amount of grain and haziness works for 12 Monkeys.
Just wait for probable Holographic Versatile Disc for this title.
Speaking of Gilliam, I should also purchase The Adventures of Baron Munchausen on Blu-ray.
Robert Harris has compared the Blu-ray and the HD DVD. A link to his "A few words" thread appears in the "Related Forum Threads" box to the right. The key posts are here and here.