Ponyo, One of Miyazaki's Best!
I saw the film almost a year ago before it's U.S. theatrical by importing the DVD. Needless to say, it's a great movie. I picked up the Blu-ray for about $17 and it is stunning. The colors are very vibrant. Video gets a solid 5. Now, a lot of people are bashing this release because of the Japanese audio only being Dolby Digital 5.1. I have an old 2 channel sound system and it sounds great to listen too. The extras aren't much, but also adding in the fact there's a DVD copy of the film added with it, good for iPod converting.
I give this a solid 5/5 for everything. It is an amazing Blu-ray. I should note though, that I have an Insignia NS-BRDVD3 player and it needs a firmware upgrade for this Blu-ray. When you press "Play Movie" on the main menu, you get the Disney Blu-ray screen and then it just goes to a black screen. I ejected the disc and decided to play the film through the Scene Selection at Chapter 2 and it works fine.