Yes, the new releases are cropped. I downloaded a rip of episode one the other day to see how bad the cropping was, and a fair amount of the picture is missing. There's a little bit added to the sides, but not as much as was lost. This is because the original cells that DBZ was animated on, are in terms of size somewhere between fullscreen and widescreen.
Some of the people in the thread linked to complain about the video quality as well. It seems the source that Funimation used to create this remaster was in pretty bad shape, and in effort to correct this some of the detail in the picture was lost during the remastering process. With the exception of the odd shot, only a videophile or someone explicitly looking for problems would notice anything wrong.
As for me? I'll probably end up buying the R4 version that Madman have promised for June. I doubt we'll see a better version and the problems weren't bad enough to significantly mar my enjoyment of the episode.