This being my 1st "new format" review, I hesitate to make any kind of definite conclusions, because, well, after seeing another Alex Proyas film - Dark City - on a region A Blu-ray, I thought it looked pretty neat, but going through this thread @ AVS Forum made me realize I knew very little about HD...

Still, I'm going to try to express my humble opinion on the disc at hand. It's simple - I think the Blu-ray uses an upscaled SD master. In comparison, there's virtually no difference between the full-sized HD captures & the ones taken from EiV's DVD (upscaled using AviSynth's Lanczos4Resize). Well, to be fair, I must admit the Blu-ray does look a smidgen sharper, but I don't consider it reason enough for an upgrade. Let's hope a better quality version will surface in region A (which Disney holds the rights for)...  
After discussing the matter over @ AVS Forum, I stand corrected; as evidenced by the grain structure the Blu-ray displays, it seems it's a genuine HD transfer after all. Still, to my eyes, the improvement over its SD counterpart isn't that great. I'd say if you're not dead set to own "The Crow" on Blu-ray ASAP, wait until someone (Disney?) comes with a proper 1080p / lossless audio version...

Well, this seems to be based on exactly the same master as the EiV edition reviewed above, but - recalling the conclusion of that review - it IS "a proper 1080p / lossless audio version," so it must be better, mustn't it?