The transfer is acceptable. It's plagued by the usual problems one experiences on Hong Kong DVDs: The original negative has not been protected very well, so there are white and black spots throughout the film. In some scenes it's very noticeable, but most of the time it's not distracting. The DVD doesn't appear to have the kind of compression artifacts that are usual, but that may be due to the overall fuzziness of the image. The film is also very bright, but the colors are rich, and the image has a nice feel to it.
The subtitles are clear, with only one or two instances of white-on-white problems. The subtitles are understandable, and appear to be properly translated. The disc is not time coded (some players will simply write "play" in the display). There are 9 chapters with moving images in the menu.