Not as bad as digital bits was saying, but the color balance isn't as good as on the DVDs, and certainly degrained to the point of a waxy image. Essentially, passable, not much of an upgrade sadly

So since I already own a VHS copy and a DVD copy of these cartoons, then it is not worth buying/pre-ordering this blu-ray? Those copies that I own aren’t 100% perfect either.

Judging by the screenshots, I think the cartoons look fine. I like that they eliminated the title-safe borders for this release.

The real question, though, is whether they screwed up the ending audio cues again.

Blu-ray.com review:
https://www.blu-ray.com/...n-Blu-ray/333896/#Review 

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it seems that the footage for the new docu has the footage sourced from the Warner DVD but in HD. The color timing is identical but the smoking gun is the screenshots with the same exact visual debris found on frames of the DVD version.
Now I'm not sure what exactly the source for the Warner DVD was, but it was promlematic in some areas (Showdown, Eleventh Hour, and some others I can't quite recall, have areas of the film which are heavily scratched, followed by a black frame. Most affected is The Bulleteers which had a second or two of animation not shown due to this). Evidently Warner thought it was worth it to go back to the negs for this one.

Strangely, Amazon has pulled the set

It's back.

Since the shorts are PD, is there a better DVD set that anyone can recommend even if they aren't restored? I kind of recall VCI Entertainment (which did Jerry's two PD Paramount sets) putting out a set with decent prints, but I don't know for sure.

So it turns out nothing was fixed audiowise. In fact more errors have shown up.

The DVD looks awful, so this is good news.

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I'm not sure why you said that. The blu ray's been out for some time, its well documented that it displays a pretty degrained, waxy image on the shorts without fixing the audio issues, and compression issues. The WB DVD actually looks pretty good, so sticking with that is the best option I'd say