"On that note, a word of warning for purists -- grain has been artificially reduced using a minor application of Digital Noise Reduction (DNR). Because this decision by New Line has sparked some controversy, I spent quite a bit of time comparing this Blu-ray release to the previously released high-def import edition, hunting for blurry patches of skin and smeared textures. My takeaway: fans with screens larger than 100" may see a loss of clarity when directly comparing still shots from this domestic version to the same shots on the import, but the vast majority of viewers will never notice or care (especially considering how insignificant the visible difference actually is when the film is in motion). While I'm not a personal fan of New Line's unnecessary adjustment of the original print, I feel it's crucial to note how judiciously the technique has been applied in this case.
All things considered, 'Pan's Labyrinth' is a great looking addition to your Blu-ray library that puts the standard DVD editions to shame. The transfer may not be as natural as the very best top-tier high-def releases, but it comes incredibly close. Fans aren’t likely to be disappointed." -
http://bluray.highdefdigest.com/1181/panslabyrinth.html
Think while it's still legal.