Sounds like the 88 Films version is the one to get! Better video, better audio, and excellent extras not found on the US version, like the Japanese cut. Also, Region Free and US player friendly!
For an idea of the transfer differences, check out Troma's YouTube account and 88's YouTube accounts. The Troma Blu-Ray trailer has an HD print that looks good, but has scratches and flaws aplenty. 88 has a clip of their restored transfer and it is absolutely incredible! I doubt the movie has ever looked that good.
Can't wait for the sequels, either!
