Looks nice from the YT sample I saw! Better than the R2 DVDs and a huuuggge step up from the old Disney masters.
BTW, I don’t think Disney owns US rights to first film anymore. Unlike the sequels, they did not produce the first film and only got distribution rights for a certain period of time. It’s not on streaming anywhere (though they do have the sequels) and the DVD is OOP, which tells you the obvious. ITV owns international rights through distributor ITC, hence why it got better treatment overseas than what the House of Mouse had done over here.
If I had to guess, US rights are now ether with the main producer now or perhaps Multicom Entertainment (who owns the catalog of one of the producers The Kushner Locke Company).