I purchased the Criterion DVD when it was released years ago and still have it... after watching it recently I decided to look around for HD options, already aware from reviews that the various Blu-ray releases have been somewhat underwhelming. The MGM HD Channel aired what they referred to as "the world premiere of the director's cut" (their language - I know he just considers it the MPAA unrated version) and it was okay looking but not great. Was it really the 'world premiere'? I don't know... thought the unrated version had been around for years. Maybe this was the first HDTV broadcast of the unrated cut? Okay it was HD yes, but not that impressive. Then I found a hybrid of the recalled Sony Blu-ray and an HDTV broadcast of the unrated version. I have to say the clarity and overall color timing was much, much better than the MGM HD broadcast. Some guy put it together and it's the best HD Robocop I know of so far. The audio track was strong and it even included the director's commentary. It's definitely a quality project and worth a look.
(his notes: The majority of this project utilizes the theatrical Sony Blu-ray as the main source with additional uncut sequences from an HDTV broadcast being spliced in where necessary... the DTS track was taken from the MGM Blu-ray and the commentary is from the Criterion DVD. Grain has been added to the HDTV source sequences to achieve visual parity to the Sony Blu-ray.)