If it's identical, then it's the best you'll ever see PF look. It's too bad that it doesn't have the original music, but John Waters seems okay with it so it's fine by me.
Considering the music and opening credits were altered and the entire film has been incorrectly matted for faux widescreen purposes, I don't think it's the 'best' you'll ever see the film look. I have the DVD for the commentary and whatnot, but retain the old Harmony Vision VHS for whenever I actually want to watch the actual film. Same is true for FEMALE TROUBLE - the matting on the DVD is awful.