Here you are an interesting comparison between LD, DVD and BD... I should add the HDTV has the same color grading of DVD.
I don't like BD colors, and I prefer LD, but I don't dislike DVD (HDTV) color grading, because it's near to LD than BD; neverthless, I think applying LD colors over HDTV will be the best solutions.
Opinions?
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On audio side: the italian extended cut DVD and BD have a new dubbing... it's widely recognized that the original dubbing (of the theatrical cut) is better than this... another reason to do a preservation, from my POV.