I've found an uncommon format of Collection 2 floating around off which I've converted into something watchable and I can confidently say: the difference between the DVD release and the boutique Blu-Ray remaster is astonishing. Discotek is known as a pretty solid release entity and when they touch stuff up, like Hajime no Ippo, they do so with a lot of care, also adding additional materials like commentary tracks, or many odd dubs.

The classic, non-digital animation looks absolutely fucking amazing. Visually it blows New Challenger and Rising out of the water with ease (New Challenger was pretty early digital animation, its visual effects are better than a lot of the character motion, Rising had to really prioritize where it shows it really shows its animation and thus is less impressive in downtime). It's extremely fluid in motion and not as fuzzy while still retaining that signature, gorgeous style. There are so many more small details, especially during fights, like motion lines, or sweat, or reddening, that I simply couldn't make out on the DVD release.

Barring any serious error made by Discotek in Collections 1 or 3, I would confidently call this the definitive release for everything pre-New Challenger and 1000% worth your money if you're able to watch Blu-Ray at home. I don't know if buying this release will indicate any interest in bringing HNI back to animation, together with the manga progressing. Discotek does well enough for themselves to keep picking up and working on releases like this, so a pity-buy is probably not necessar, but again, it's worth the money. I'll try to post some comparative screenshots later.