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Phantasm II is one of those movies you have to be a fan of to really enjoy. So the movie's quality is subjective.
You do NOT have to be a fan to enjoy the disc. The picture has been restored to a high-def finish (it's 25+ years old, so the image isn't as sharp as modern films) and the image is clean and devoid of any serious DNR. But while the picture and audio are representative of everything right and true with Blu-Ray, this disc was designed for fanboys like me and serves as a great example of Shout! Factory's dedication to quality collector's editions. There's a 50-minute HD retrospective documentary as well as a collection of older archival material, deleted scenes (many of which are in very good condition having come from the director's personal stash) and also an old educational film from the 50s starring the film's villain as a young Abe Lincoln.
And my personal favorite tidibt is that the cover is reversible: flip it over and you have the original poster art to slide in the sleeve! If you like the film, it's definitely worth the buy, even at $20 or so.
My Best Buy number: 2108963423
My Best Buy number: 2108963423
What's great about it: Great picture quality and fully loaded with goodies
What's not so great: A little bit overpriced at $20 range