I'm a little surprised. I haven't seen the movie on BR, but I thought it had a big enough budget for some decent effects... I saw it in the theater and I remember the sound being really good. I definitely know what you're talking about in general though. The extra resolution kills some of the effects that people got away with back in the day, or it makes the green screen way too obvious. The really old movies fare surprisingly well though b/c they didn't really use effects.
I was surprised at the color transfer of It's a Wonderful Life. I just saw it this week and I wasn't sure if I'd like it because I enjoy B&W. It was really well done though. And Donna Reed's smile as she sees James Stewart across the dance floor has got to be one of the absolutely best smiles in cinematic history.
