First of all, my rating is basically 5 stars for the movie and 2 for the Blu-ray presentation.
The main reason? The picture. I just don't believe this has been remastered at 1080p. I have original projection reels of this movie in my collection and they still look cleaner and sharper, which they shouldn't. Basic Instinct has incredibly good cinematography, but the Blu-ray image is SOFT. Meaning there must be anti-aliasing happening because the image is not sufficiently detailed to fulfil 1080p. It was really something of a disappointment. Yes, it looks okay, but not for a second is this the best is could look. What's more, it's from Optimum, who usually really are quite good with their material.
The audio is fine, and Goldsmith's beautiful score is not damaged by the poor treatment other aspects of the movie have suffered.
There are no extras. Not even the feature-length Making Of has been included. There is a picture option which allows you to follow their instructions on getting the best picture they believe possible out of this disc. Well, ignore it. You know yourself what looks sharpest and most vibrant, and for me it was NOTHING like what they were suggesting.
I find this release to be a big disappointment, given how popular the film was and, despite it's often sleazy reputation, it really is a finely crafted thriller with lush, warm cinematography, Goldsmith's last great score, great editing and Verhoeven's slick direction. It's too bad the Blu-ray doesn't give it the respect it deserves.