I have always loved this book, and recently ordered a new hardbound copy for my three children. When I received it, I was surprised at the markedly poor paper quality and the poor saturation of both the pictures and the script on the facing pages. Yes, the illustrations are watercolor, that is not what I mean. The ink and just the overall print quality are cheap-seeming. Near the copyright it states "printed in (third world nation)". To those of us who remember when t-shirts were union-made domestically and didn't fall apart after five washings, this seems like part of an overall trend.
But the book is still wonderful, worth buying. I am considering ordering copies from the UK amazon site for my relatives, Europeans seem a bit smarter about keeping up printing and other manufacturing standards.
Similar problem with "The Tomten", even in the hardbound edition.