Echo Bridge, under license from Miramax, is releasing this on DVD in December. It is unknown if there will be any bonus features and no telling about the quality either.
I love how enthusiastic this thread was. Unfortunately, I just bought the R1 DVD and it is literally a fullscreen VHS transfer slapped on a DVD (I should have been suspicious when the back cover listed no specs whatsoever). That's certainly worth the decade of waiting. Thanks a lot Miramax/Echo Bridge.
I suppose I could always go with the interlaced, but comparatively great quality Japanese DVD. Oh wait, it's out of print now. OK, perhaps the German BluRay. Oh wait, it's an upconvert with contrasts so boosted that everyone is swimming in ink.
I'm quite surprised with Echo Bridge actually. Some of their earlier DVDs such as The Nurse and Ghoulies IV had decent quality and their DVD of the original Prom Night has a very good transfer as well, but not the best, though.