Almost certainty and the new digital 4:3 masters are the best B5 has ever looked. I'm not saying it couldn't have looked better but it's far better than I had hope for. That plus a higher bitrate will hopefully be even better. I believe JMS has had no involvement with the set, so I wouldn't expect WB to put any effort into it bonus features wise. They haven't even bothered to make new artwork, it's the same as the old NTSC B5 DVD boxset.
I've got both the PAL DVD and NTSC DVD sets (plus the PAL VHS tapes) and I'd say avoid them like the plague, now you can get the remastered show in digital, or on blu-ray for Xmas.
Exactly. They scanned the negative in 4K and "downscaled" it to 1080p, then upscaled the CGI to 1080p (full CG shots & composite shots) so they more or less meet in the middle. Occasionally the composite shots can stand out, when you're fast cutting between a full HD shot and almost the same shot but upscaled (because they added a CG effect on it). It's not perfect but it's pretty damned good.