You know, it seems to me that to really do a bootleg right, you should capture the Definitive LD uncompressed, and do a scene-by-scene retiming/rebalance on every shot using the new DVD's as a guide. Of course, you'd need a serious digital color timing system to do it on, like a DaVinci. Then, you'd want to be able to transfer the LD's audio digitally at 448kbps for the 5.1 ac3 soundtrack. Commercial, dual-layer DVD-9 authoring would be a must, so you could encode at the highest possible bitrate..
To do this, you'd need state-of-the-art post production facilities, of course... and people sympathetic to the cause.
Now if only we could find one!
...... wait a minute....
....that's right...
....I own one!
...hmmm.....
_Mike