Will that Studio Canal Blu-Ray of T2 work in American PS3s? I ordered the UK disc of Transformers: The Movie (the 1984 animated one), as it was only released over there but happens to be region free so it'll work everywhere.
I have Transformers on HD-DVD and Blu-Ray, simply because the HD-DVD has nasty DRM problems and doesn't even play correctly in my Xbox 360 addon. Otherwise the two HD sources look 100% identical. And for the DVD, some parts of it look as good.
I think the thing with DVDs is the fact that they are usually variable bitrates... on a lot of movies I've upscaled, certain parts look just amazing, while others aren't as good. And I know some DVDs aren't good... I watched GoldenEye a couple days ago and it was truly a disappointment. (But that's not even out on Blu-Ray so you can't try to get me to switch over!) (I think there was a "remastered" DVD they came out with before Quantum of Solace, but mine's an older one that was part of a 7-disc Bond pack)
Each Blu-ray release is phenomenal in it's clarity and definition - How the West Was Won especially which is a huge revelation. It really does look better than the majority of films filmed and released in the past year.
The thing is, depending on the movie, that clarity and definition isn't always noticeable. I compared the movie Hot Rod to its HD-DVD counterpart and seriously could not see a difference. I compared three different scenes, each with different colorations and such. On one scene, the HD-DVD was easier to read the Pepsi advertisements in the window of a building they were standing in front of, but that's just about it.
And other movies, like I mentioned Iron Man, actually do have a huge difference. I'm not saying Blu-Ray isn't better, but a lot of times it's an unneeded improvement.
Not to mention that a *good* DVD will still look simply phenomenal - it's not like you'll be watching a DVD and going "Wow, this just looks like crap, I need my Blu-Ray disc!" It might look a little grainy or something but I hate the people who complain and moan about a certain title not coming to Blu-Ray... they can just use the DVD and it'll look about 85% as good! (I made that number up based on what I personally can see, it's probably different for others)