The idea is to make it better than the laserdisc original. The sound would be the same, but the colour rendition is a little off on the LD version. We have the colour grading tools here to correct that.

I haven't yet seen the bootleg DVDs that are floating around, but my guess is that if you run a projector the difference will be very noticable if for no other reason than going to a Dual layer output. If running on an uncalibrated small TV then you probably won't see any difference.
My main aim is to have an archival copy of the laserdiscs. Laserdiscs rot, so they will not be around forever, which means the only reasonable qulaity edition of the original films would disappear forever if not digitally archived. I will be archiving the uncompressed digital master as well.