I spent a good deal of time watching a good portion of THE SOUND OF MUSIC today. Again, I synched up the two versions and switched back and forth. The Five Star Edition is definitely a darker transfer; the 40th Anniversary one lighter, softer, with colors popping a bit more. The Five Star is also somewhat grainier than the newer one, too.
I ended up watching much of the film from the Five Star Edition when I tired of switching back and forth. The transfer has a Dolby Digital 5.0 track (no dedicated bass track for the subwoofer), but I heard some nice bass during the thunderstorm sequence and at other portions of the music.