FnordChan,
I also have the Definitive Laserdisc Collection. I think I paid around $200 for it when it originally came out (shipping was terrible because it was so heavy). I had not originally planned to purchase the DVD set, until my friend brought them over last week (he has a hookup at FYE and he got it early) and we did a direct comparison on my direct view HDTV. Like you, my equipment is top of the line. I have a Pioneer Elite LD player and a standard Pioneer DVD player. We did a direct comparison of the exact same scenes to compare video quality between the two sets.
I hate to say it, but there is NO comparison. It's one of the best DVD transfers I've ever seen and it made the Definitive Laserdisc Collection look pathetic. Trust me, I never thought I'd say that. Heck, after paying $200 for the Definitive Collection, I never wanted to say that!
With this much of a difference between the laserdiscs and the DVDs, I cannot fathom how the new set compares to VHS.