Piranha and Humanoids both represent a quantum leap in quality from the old full-frame DVDs. Shout Factory seems to consistently churn out very film-like transfers. You're going to be pleased.
And I agree with Anthro about the quality of the film. There are lots of Jaws clones--and most of them are terrible. This one is a witty delight. You really can't go wrong with a John Sayles script. Alligator is great fun too.