KPmusmag
Screenwriter
No, the studios did not strike different transfers for each format. However, in some cases the encoding may have been better on one format than the other. Same underlying master, though.
I'm not sure about that in the case of The Sting: the HD-DVD had instances of scratches and minus density which the blu "fixed". To me the HD looked more like film. It may have been the same transfer, but it was worked on digitally in between.