I, too, am waiting for this one. Universal would appear to hold the rights (they released the film on VHS). Since they have a 'working relationship' with Criterion, a CC edition is certainly a possibility (they did an excellent job with the equally underrated Schizopolis). Personally, I can't see Universal expending much effort to release it on DVD (it didn't even come close to recouping its costs at the box office in 1993, and has less than 1500 votes on IMDb).
Soderberg's OUT OF SIGHT is out of print. Perhaps Universal will do a Soderberg Box set soon with OUT OF SIGHT, KING OF THE HILL, THE UNDERNEATH (w/new Anamorphic Transfer), TRAFFIC and ERIN BROCKOVICH.
I have the laserdisc too and it has a bad case of laser rot. I can't imagine why this classic film has never been put out on DVD. If being unpopular is a reason to keep a film from being released about 90% of the films out there would never have made it to DVD.
I'm glad this thread has been resurrected because I had forgotten about this great film until now.
It seems there is a copy available in the UK on Amazon. For some reason it's listed incorrectly as 1.78:1 Aspect Ratio but if this review here (King of the hill - test dvd) is the same dvd, it's preserved correctly.
But geez, when is R1 going to see a copy?