I think everybody already needs to know everything there is is about these fantastic films, so I won't bother reviewing the movies themselves.
Firstly, yes, for the first time ever in the UK, Temple of Doom has been reclassified with a 12 certificate and is released fully uncut. The movie now features the complete uncensored sacrificial and Shortround getting tortured scenes as well as several other bits that were previously edited. The uncut version has been available worldwide since the film's initial release except for, you guessed it, in the UK where bits were edited in order for it to secure a PG rating, but thankfully no longer.
Picture and sound are amazing. I have worn these films out on VHS and DVD with the amount of times I have seen them, but the Bluray experience was like watching them for the first time. The colours are vivid, and the picture so clear that there is detail I have never seen before. The only downside is that some of the matt painting and effects shots now look very obvious, but this is how the films were originally made, and thankfully they have not added any out of place CG to hide the fact like Lucas has with the original Star Wars Trilogy. Crystal Skull was obviously going to look the best, but in all honesty the original trilogy looks like it was made yesterday, and can compete with any modern day digital CGI fest.
The set comes on five discs all housed in a nice compact and rigid cardboard slip case, that opens out to display what looks like some new beautifully commissioned artwork and photo stills for each movie. It's a pity the same design choice wasn't applied to the discs, which are oddly just plain white with the film's title on them, but this is a minor detail. As well as the four movies, there is a fifth disc which contains over 7 hours of bonus documentaries and such, so there is plenty to keep you entertained here.
There is a more expensive set also available which contains various collectable prop replicas, but I cannot comment on whether it is worth the extra money as this is the only one I have seen. At the end of the day, if you just want a definitive, no frills collection of the Indy films, then this is it, and definitely worth the upgrade from DVD. Recommended.