I'm not sure if my blu-ray is re-mastered or not. In the photo BigTransformerTrev posted I have the dvd in the upper right and the blu ray in the bottom middle. Pending more details and info I may buy this.
Shout Factory are known for making new transfers. If you're uncertain, wait for the reviews (decent DVD site reviews, not TF sites) but I'd bet it looks better than the (rather decent looking, considering the film's origins) transfer available on BD in Australia.