Stick with your DVDs
Now there are plenty of forums discussions about which version is superior so I'll just skip it. It all boils down to how you like your films, spelled out for you or left up to individual interpretation (I prefer the latter).
Since the original's release in 2001, Fox has had ample time to give this movie the proper treatment it deserves. They failed big time, so I'm telling you now, DON'T WASTE YOUR MONEY!
This is coming from a huge fan of the film, the picture quality remains as poor as it was on both DVD editions. Now some may attribute that to the DP's choice of film stock, going with one that had silver in it. The result on a low budget is that it enhanced dark scenes (which the film had plenty of) at the cost of reduced detail. Say what you may but Fox has done nothing to improve this film visually. Purists may argue that this is the way the film is meant to be seen, with a blurry dream-like quality. To those people I say keep your DVDs, unless you're the type of person that must have both versions on one disc instead of two (in which case why are you reading this?).
To those who think you're getting the "definitive edition" of Donnie Darko you're dead wrong. The extras on the 2nd DVD is an exact copy of the 2nd Director's Cut DVDs (looks like they duct-tapped this "collector's edition together). Fox neglected to include the deleted scenes, music video, and everything else that was on the theatrical cut on DVD (save for the film itself and commentaries). And to the five people out there with D-Box enabled equipment this film supports that as it's sole hi-def exclusive.
In conclusion this blu-ray is nothing more than Fox trying to cash in on Darko fan boy-ism. With DVD quality visuals, slightly upgraded sound, and a third of the extras, I can't recommend this disc when you can get both DVDs cheaper, and get more than you would here. Chances are Fox will double dip this one down the road. Need more proof? They're releasing S. Darko, a direct to video sequel, in the coming months (cash-in).
Hopefully Fox will learn that they can't slap a dvd copy of a film on blu-ray with no substantial improvements and expect people to buy it. They could take a page from Warner Brothers who takes films like The Road Warrior, Dirty Harry, and The Shawshank Redemption and gives them quality transfers and ALL the previous bonus features (if not more).
FINAL COMMENTS: GREAT FILM, BAD DISC

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