The film is from Sony, not Universal. I haven't personally watched the Blu-ray, but given the fact that it's a Sony property, whose library assets are overseen by the esteemed Grover Crisp, I'd be extremely confident that it's going to look about as good as it possibly could in the format. Remember this was a low-budget title, as Bob C. has already pointed out.
Well finally got to view it. I 'll go into detail a little later when I have a real keyboard to type on. But to make it short, PQ on this release leaves something to be desired. The release was fro Universal which probably tells you a lot right there. Might be better than the DVD release but not by much.