The video is presented with a 1080p/MPEG-4 AVC encoded transfer looks good enough for its age but is nothing to write home about. The source is clean but can be soft at times. Grain is apparent and the image can be dark at times. The audio is more impressive presented in DTS-HD Master Audio 5.1. The dialogue is clear and understandable. The surrounds offer minor ambiance, particularly water effects, and music.
I have mixed emotions on my review. There are portions of the story involving the retirees that are endearing and enjoyable. However, the denouement is confusing. The message of the movie is touted as being about love, friendship, and the human spirit but some of the choices the characters make are not in line with this and don't make sense. The Steve Guttenberg storyline is painful at best. I never thought he was a great actor but here he is downright awful. He is never believable or genuine and one particular scene is beyond ridiculous. For the reasons mentioned, I can't wholeheartedly recommend Cocoon. There is especially no reason to purchase the Blu-ray version since the special effects don't hold up and are mostly distracting. Instead of wasting two hours watching this, use those two hours to enjoy the preciousness of life which is what the movie would tell you to do anyways.