I am watching now the BluRay and I have to say, the constant changes between sharp/grainy live sequences and soft DNR'ed sfx sequences is always irritating for me. You pretty much know by this alone: "Alert! Special effects are at hand!"
So I think in the end, after all seasons are released, we have a similar situation like with the SD version: While the SD version always had the unusual pinkish 1st season, which stood out for its low image quality, the HD version has now the 2nd season with its special effects problems and the constant change of sharp/soft image quality.
I guess, we are going to have to wait another 10 or 20 years until TNG maybe has a consistent quality release over all 7 seasons (when its done in 3D or for the next gen HD displays).