This is biggest news in catalog Blu-ray bringing something long-awaited back into print in the USA. The only way to get Phantom of the Paradise on Blu-ray (or at all, for that matter) has been an all-region French import that I insist could look better and include better extras. Scream Factory will undoubtedly knock it out of the park, based on their amazing track record.
Brian DePalma's Phantom of the Paradise is a favorite film of not only fussy film writers like myself, but brilliant filmmakers like Guillermo del Toro, who spoke to me about it briefly on Screen Time #18 (Subscribe: iTunes/RSS). The brief Phantom bit comes while discussing Phantom star Paul Williams' work on the upcoming Pan's Labyrinth stage musical.