Did you get the actual tape (or a DVD-R burn)? The AVI on emule has too much compression.
The best thing is that it lacks all the halos on the 2nd gen tape, not to mention that with a bit of color correction on the yellow tint, it looks actually better color-wise than Miramax's DVD. Also, some of the sound effects in the workprint are vastly better than in the Princess version. For example, when Phido comes back and is swatted by Zig-Zag, there's a really neat effect when his "multi-purpose cane" extends into a flyswatter (and later some prods).
Although... now that it's so clear, all the scratches, hairs, and dirt are more obvious than before. Would you be able to remove them? Even if that's too elaborate, it would be neat if you could at least paint out the few reel change cue markers (both on the workprint and the Miramax DVD).