It looked fantastic. I quality was so high, you wouldn't believe it was almost 30 years old (aside from the clothing, slang, and general 1979 feel). I do love this movie, though. "Warriors! Come out to PLA-AY!"
This movie is one of my all time favorites because the mood of it is so intense and the pace is perfect. I can't say I'll see it in Blu-Ray any time soon but I'm sure it's as crisp as the Warriors' jackets.
I don't see me ever wasting the money on blue-ray as long as dvds are still available. I'm not sure why the big industries are so worried about a larger distribution medium anyways ...everyone knows fast broadband is the way of the future. Not everyone has it yet though so they'll try and leech as much cash as they can.