I'm skeptical. All the reviews are from 2005-2008, and WotC's scans back then were abysmal.
Just bought it. It's the 3rd edition, 7th printing. I only just took a quick look but the text is all completely legible. The B&W pics of minis are hard to make out but I don't know what else we might have expected.
Ah, so no Ents and Hobbits. *sigh*