After a few days of rendering, I've completed my latest 720p raw avi of Star Wars. My anti-aliasing has been upped a touch and edge sharpening slightly increased. Again, this is much grainier than dark_jedi's V3. And, of course, those jagged edges are still hanging around...though I do feel I've managed to decrease them even more.
Also, I've been playing with the colors a bit more, decreasing the red saturation while pushing everything else. The colors are a work in progress. I will probably wind-up releasing separate "color-tweaked" and "not-so-tweaked" versions in hopes of better pleasing everyone.
Here are a few new screengrabs WITH the color changes. With exception to a shot of the opening text, these are the same screenshots dark_jedi used in his V3/BluGOUT thread.
http://img225.imageshack.us/img225/8765/color1o.png
http://img24.imageshack.us/img24/5215/color2q.png
http://img132.imageshack.us/img132/8754/color3x.png
http://img823.imageshack.us/img823/4085/color4.png
http://img16.imageshack.us/img16/7916/color5n.png