To pass the time tonight, I watched AMERICAN BUFFALO (Ok movie, decent transfer) and PENNIES FROM HEAVEN which I admired even more seeing it look so good. Yes, as BK said, there was noticeable grain in some shots, but the musical numbers look so stupendous that I didn't care. The DVD simply blows the full frame, muddy looking laserdisc right out of the water, and this is a movie that's just grandly enjoyable for the sheer audacity of it. No other American film looks and feels anything like this, and I'm so glad we have a decent copy of it to enjoy.
Really was dumbfounded by how spectacular Vernel Bagneris' "Pennies from Heaven" number looked. And Bernadette's terrific number with the kids is astounding to look at in widescreen.