Yes they are. I have always loved this film. I've owned it on Video, DVD (R1) now on Blu-ray. I wasn't expecting much from this and in all honesty is it any better on Blu-ray? Yes it is!
Ok, so it doesn't compare to CGI movies, but I was impressed how much cleaner this version looks and how much sharper the sound is. I was able to play my Region 1 DVD copy on my Blu-ray player, which upscaled the picture, and I was thinking to myself "Surely the blu-ray version can't look any sharper?" Well I am happy to report "Yes it does". If you love this film I recommed you own it on Blu-ray - BUY IT NOW!!!
Just for your interest I am using a PS3 to play my blu-rays and my TV is 1080p @ 100hz.