The 'Ultimate Edition', and ONLY the 'Ultimate Edition is a revelation. Over the years I have seen many copies of this old film but this edition really is the bees knees. Granted it is from a 16mm print, but that, in turn was taken from an original master and is as sharp as 16mm can be under the circumstances. It keeps its original grey scale integrity which means you won't miss any details, and it is even slightly picture framed so you won't lose anything at the edges. There are a lot of scratches and general blemishes in places, and these could no doubt be removed digitally, but only at extreme expense.
Amazon have this regretable habit of scattering reviews of a film throughout all DVD editions available, so don't be fooled, especially by one particular edition, which uses the same original poster on the box, but is inferior in every other respect. Look for 'Ultimate Edition' at the top of the cover picture.
Until a 35mm archive print can be found this is probably the best it will get.
This edition has an excellent and informed commentary if you need it, a copy of the original programme, a film of Lon Chaney visiting the set, 3D pictures actually taken on the set, to view with supplied glasses, and best of all will play on your region 2 machine.
Fussy upstarts and contemporary Philistines be warned, however - this is a silent film, Lon Chaney aint gonna talk!