Unofficial Releases Over Studio Releases

Disney 4K Blu-ray's artificial smoothening of facial textures making actors look unnatural, grain reduction and other changes to make the film look less like a product of its time

Old WEB-DL or HDTV rip for non AI version

Alleycat's extended restoration better

Extended Cut DVD has extras not on Blu-ray

DVD, Blu-ray, and 4K Blu-ray are altered

1992 Disney LaserDisc or 35mm scans for OG stereo mix

Disney+ is streaming in HD with OAR

The film exists in three versions:
- the original Australian cut (~104 minutes at 24fps/~100 minutes at 25fps);
- the American/international version (~98 minutes at 24fps/~94 minutes at 25fps) trimming some exposition in the Outback first half of the film and some shorter extensions of a few seconds in the New York section, altering some of the dialogue – including censoring a "fuck" to "screw" – but featuring one additional dialogue extension not in the Australian version (a comparison of the two cuts can be found at Movie Censorship);
- the Australian Encore Cut (~95 minutes at 24fps/~91 minutes at 25fps) which uses the international version source so it already has those alterations but also removes approximately three minutes consisting of parts of two scenes featuring Mick grabbing the crotch of a cross-dressing prostitute and a later sequence when he does the same thing at a party to a woman with a deep voice (a comparison of the international version and the Encore Cut can be found at Movie Censorship).

If not, the 4K Blu-rays are generally considered an improvement over the 2011 Blu-rays. (although both restorations are DNR'ed and have issues).

International Cut changes: https://www.movie-censorship.com/report.php?ID=2965833

WB 4K Blu-ray retains the revisionist colors with minor tweaks, has OG mono

See caps of Blu-ray vs DVD

• 1991 CAV LaserDisc includes an approximation of the original Fantasound mix in Dolby Surround using the surviving magnetic mixdown, using Stokowski's original mixing notes as a reference. Original aggressive pans and dynamic range are left in tact.

• The 2000 DVD uses this same mix in discrete 5.0, but with some unnecessary dynamic range compression + a redub of all Deems Taylor audio with Corey Burton.

• The 7.1 mix on the 2010 Blu-ray sounds poor, having been hit with excessive noise reduction, dynamic range compression, original aggressive pans no longer in tact, and the channel usage no longer resembles Stokowski's original intended sound design. 

Theatrical Cut: Old Warner Bros DVD or fan restoration

Revised Cut: 2012 Japan Blu-ray for less revisionist colors, 2022 Disney 4K Blu-ray is controversially regraded and too dark overall.

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 Blu-ray is showing its age but does not have any of these digital alterations. It is from the scan done by Laser Pacific and is the highest quality unaltered master we have. The DVD was done by Lowry Digital and had much scrubbing and processing of grain in addition to edge enhancement. The letterbox LaserDisc was the first widescreen release and is very good for its time. There was also a rare SVHS release using the letterbox LaserDisc master.
The 4K Blu-ray audio is seemingly an Atmos remix of the 5.1 found on the Blu-ray which itself is very similar to the DVD 5.1. All are presumably based on the 70mm Dolby six track mix. The Atmos is more processed and moves the sound around more so it is inferior to the older 5.1 iterations. On release, Last Crusade had Dolby 70mm with stereo surrounds, Dolby Stereo SR for 35mm and was mixed in a THX sound theater to ensure the ultimate in technical quality in 1989. The DVD was supposedly made from the 70mm mix and the Blu-ray 5.1 seems to bring that into lossless. This is unconfirmed but each seems to be a healthy and accurate version of the original audio. However, the LaserDisc despite only having matrix PCM stereo is punchier and livelier as a listening experience. Despite not being discrete it arguably sounds better than the 5.1 versions. Some who remember seeing each of the original release versions claim to remember the 35mm Dolby DR as sounding better than the 70mm Dolby.  This is a case where both sound great and it's up to fans to decide which they prefer. Both are essential for any Indy collection and the LaserDisc is very cheap. The VHS hifi seems to be the same 2.0 matrix with format differences so it can also be compared against the DVD and Blu-ray 5.1 versions.

DFIC extensive review: https://youtu.be/evsrJOTIjdA?si=wtdWGxZBfhPYTIeW

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 Blu-ray is showing its age but does not have any of these digital alterations. It is from the scan done by Laser Pacific and is the highest quality unaltered master we have. The DVD was done by Lowry Digital and had much scrubbing and processing of grain in addition to edge enhancement. The letterbox LaserDisc was the first widescreen release and is very good for its time.
The 4K Blu-ray audio is seemingly an Atmos remix of the 5.1 found on the Blu-ray which itself is very similar to the DVD 5.1. All are presumably based on the 70mm Dolby six track mix. The Atmos is more processed and moves the sound around more so it is inferior to the older 5.1 iterations. On release Temple of Doom had 70mm, 35mm Dolby Stereo and mono mixes. The mono was for 16mm and other outlets and is presumably close to if not a mixdown of the stereo. It is seemingly the last Lucasfilm title that had a mono mix made. The Dolby Stereo is one of the most aggressive matrix mixes ever made and is still a blast to this day on the letterbox LaserDisc release. It is more aggressive than any of the 5.1 discrete versions which is either due to studios taming the audio later or the 35mm mix being handled a bit differently to the 70mm mix. In terms of releases today, the LaserDisc still sounds better than DVD, Blu-ray or 4K Blu-ray because of this factor.

DFIC extensive review: https://youtu.be/evsrJOTIjdA?si=wtdWGxZBfhPYTIeW

Later Versions: Disney DVD, Blu-ray, and 4K Blu-ray are altered

Film Whisperer's restoration is better

Censorship changes for Blu-ray: https://www.movie-censorship.com/report.php?ID=224122

Extended DVD has extras not on Blu-ray