Word is from those who have seen preview clips is that it is signficantly better than the USA Blu-Ray MPEG2 release of T2. Price is $34 shipped, it is a French HD DVD that plays back perfectly in USA HD DVD players since there is no HD DVD region coding on titles or players at this point; subtitles are optional and it only needs to be set the first time you play it that you want english audio with no subtitles.
Terminator 2 HD DVD is encoded in 1080p24 VC-1 with DTS-HD 5.1 Master Audio (Lossless). Can't wait!
P.S. - xploitedcinema.com is a very reliable site that many have praised in the past for getting imports from!