Harmy - as I mentioned in the 70mm thread, I got a chance to watch this at the weekend and thought I'd post my comments. Sorry I didn't post earlier.
Before I start picking nits and getting Rob all distressed, I'd just reiterate how important this project is. It really does seem like, for the foreseeable future at least, it's the fans who will save Star Wars. Hairy Hen's fan made 70mm 6-track recreation is wonderful, and Harmy's video is just as impressive.
When I watched this (with my son) I didn't notice any "new" or SE elements. The 2 hours flew by; even though I knew it was a reconstruction and not authentic 1977 it felt like I was watching the film I love, but for the first time since seeing it in the cinema I could see detail that gets lost in laserdisc transfers and the GOUT DVD. Finer details in faces and the SFX modelwork really stood out for me. I didn't notice the DS battle glitch, and normally I have a good eye for spotting single frames of corruption!
(Disclaimer: the remainder of this post should be considered as positive ideas for improvement and not nit-picking.)
The crushed blacks are still an issue, but it's more than just that - the image to me feels like it has lost some of its cinematographic characteristics. An example would be the red lights in the corridor battle that cut though the smoky atmosphere as if it wasn't there. I noticed the same effect in Ady's ESB reconstruction. Mike Verta discusses the phenomenon about 3/4 of the way down this page.
There were a couple of shots that did stand out as being lower in quality - the infamous vas-o-cam shot in Mos Eisley, and the Tatooine sky colour reversion (this shot).
Unfortuately, as the above are both down to the sources available, I don't think there's much that can be done about them.
I also noticed occasional compression artefacts in the form of mosquito noise, particularly in dark backgrounds. I don't know if this is down to brightening up the image bringing out artefacts in the source, or compressing the video down for a DVD9, but I was pleased to read that you will be doing a new version using the BD video. I look forward to it!