My brother and I watched about an hour of Farpoint, and the HD resolution is amazing in the detail it brings out!
We did notice however, that in the holodeck, you can see Brent Spiner's natural skin tone on his neck, hands, and lips; earlier, his lips are remarkably pink on the battle bridge, as if he'd been kissing Yar and got some of her lipstick on him.
The ship at warp at the odd angle is STILL there. Deneb looks a bit 'meh.' Especially with what seem like 20 of the same establishing shot without much, if any variation. I would've preferred a CG planet so we can get more details on the planet, and new angles of the Enterprise in orbit.
As someone stated before, the transporter effect doesn't reflect on the floor as you would expect if it were real. Also, when Riker along beams up to the stardrive section, his transporter effect doesn't look like it lines up quite right.
There is noticeable grain on the image so overall, while the colors are brighter and the detail is sharper, there's still a 'muted' feeling to the episode.
When the Enterprise fires aft torpedoes, it looks painfully like a model. Here, CG would've been an improvement in mine eyes. I'll finish up the episode tonight. Overall, I have to say I much enjoy the HD over the SD, but I wish they would take a TOS-R view and make improvements when you can to enhance the suspension of disbelief (makeup flaws, FX improvements, CG planets/ships).