I just happened across the original CAV disc of TLM and the CLV of The Lion King, and while no major Disney fan and certainly not at all as knowledgeable as those in this thread on the topic they blew me away.

Despite being cropped to a 1.33 frame, I had just seen my sister's BD of TLM and in even the LD's opening shots was awestruck at the amount of atmospheric fog that simply wasn't there in the BD. Fine detail was inherent on this disc from 1990 that felt far more natural than anything the BD could muster. I even tried the BD on my CRT screen and that did next to nothing.

Despite being just the CLV version, Lion King is a fantastic LD title. I don't even like the movie, but geez does it look and sound stellar. I just watched a bit and flipped between the Dolby surround matrix and 5.1 audio tracks because at some point I had heard someone claim the matrixed was perhaps mixed better than the discrete version. (A phenomenon I found on Batman Forever) It may very well be. Either one sounds stunning.