35mm/70mm scan, Japan WOWOW Broadcast version, letterbox LaserDisc or DVD for purist version, Paramount 4K Blu-ray heavily revisionist

35mm/70mm scan, Japan WOWOW Broadcast version, letterbox LaserDisc or DVD for purist version, Paramount 4K Blu-ray heavily revisionist

1992 LaserDisc Dolby Surround, DVD 5.1 (70mm mix), 1991 Japan LaserDisc PCM (Dolby Stereo home version)

The Paramount 4K master is HEAVILY revisionist in that all of the effects and opticals were redone and tweaked with errors and issues. There has been grain management (moments of stagnating grain and haloing) and the encoding isn't great hence the typical Paramount noise in the image. (especially skies) The HDR is a bit bright in the highlights. The color timing and Atmos remix are thankfully taming the excessively overdone terrible Blu-ray in those areas but neither is fully accurate. The Atmos remix sounds lifeless and essentially tames the crazy LFE of the Blu-ray remix that never stopped while also spreading the sound around overhead. The music is absolutely lifeless here. If it weren't for the visual changes it might be possible to regrade the picture master and just live with the encoding noise. As it is, purists will want the LaserDisc, DVD or Japan WOWOW broadcast of the Laser Pacific master which is the same master used for the awful Blu-ray just without the hideous color grading applied.
The DVD was handled by Lowry Digital and is overscrubbed like crazy plus had all sorts of DVD era edge enhancement and other issues. It instigated the digital changes of the boulder rod and snake reflection removals. The ONLY widescreen versions of the film without ANY changes are the 1992 LaserDisc and the 1999 final release VHS.

Audio wise, Raiders is EXTREMELY complex. Like the Star Wars trilogy it had three specific release mixes with variations and differences plus a fourth mix that was not used. The mono mix had unique bits and has never been officially released though you can hear bits of it on the 2003 bonus DVD and in the Raiders in Concert live symphony performances. The Dolby Stereo is roughly what was used on all pre-widescreen editions on VHS, Beta and LaserDisc in the 80's. The best iteration of that is the 1991 Japan LaserDisc reissue with PCM digital sound. This iteration is more of a home version as it doesn't really have much surround. Yet it retains dynamic range unlike the 1985 home video remix of Star Wars' Dolby Stereo track. The 70mm Dolby six track magnetic audio was supposedly used in making the excellent sounding 5.1 made for the DVD release. Before the release the film was mixed in the very short lived VistaSonic process which was Paramount backed. This was dropped very last minute as the system had tons of playback issues and the film was apparently hastily remixed in Dolby formats. When the first letterboxed transfer showed up on the 1992 Paramount LaserDisc release all of a sudden the Dolby Surround encoded matrix track it contained is without question the best sounding mix of Raiders you can find anywhere. It is more aggressive than the Dolby Stereo, more punchy than the DVD 5.1 and even contains a unique different sound effect which indicates it is clearly a different mix. It is unknown if this is the abandoned VistaSonic mix or a new quiet Dolby Surround home mix akin to the 1993 Star Wars Definitive Collection remix. To this day, the LaserDisc Dolby surround is the best sounding version of Raiders you are likely ever to hear. Even though it isn't discrete.
The Blu-ray remix though supervised by Ben Burtt went overboard on making everything aggressive and modernized. The LFE is virtually nonstop even in dialogue scenes. It is a textbook case of revisionist audio desecration. The 4K Blu-ray Atmos merely tames the LFE and reduces impact even more by moving around more elements and adding more processing. Both of these remixes are a crime.

DFIC extensive review: https://youtu.be/evsrJOTIjdA