Yes, the VC version uses a larger resolution and has much sharper graphics. I own all three versions of the game and so far I wouldn't want to miss the VC one.
Ah great, thanks for clarifying! I've got 1700 Wii points at the moment...more than enough to purchase the game. I think a new channel on my Wii is now officially reserved for Majora's Mask.
I do hope though (also for everyone who has already bought this for the VC) that the trouble with freezing that some people have been having is just a one-off, and that this game isn't simply a direct port of the Collector's Edition.
I just cleared the second dungeon, and I've yet to notice any problems at all. I'm even playing it from the SD card (If that makes a difference). I have noticed, however that the stray fairies look slightly different from how I remembered them on the original cartridge.
Ah, yeah. I noticed this too. It's the colors. I wasn't in any dungeon so far, but the stray fairy in clocktown has a glowing dark orange color, it looks cool. I don't remember exactly how it looked like in the N64 and CE versions, but it definitely didn't look so catchy. Yesterday I did the Kafei/Anju Quest to get the Postman's hat (I tend to do a lot of sidequests first before I go to the first dungeon, got 14 heart pieces so far ^^) and while I've been waiting at the water place where Kafei hides I spent most of the time watching the fairy... just because it looked so ... different. xD At first I thought it's just me, but now that nokotin said the same...