With Jaws 2 aproaching I'm listening Jaws 3 a lot and it is fantastic. After two of Williams best scores for the previous Jaws films Alan Parker did a wonderful job in this one, with all new material and using the shark theme where appropriate.
Intrada's release is fantastic. I have only a minor complain on it which is the cross fades in Shark Attacks Skiers, the short track that is used for the fin rising behind the skiers is cross faded with the music for the earlier scene of the shark appearing in the underwater restaurant and the finale of the track appear to be two alternates of a portion of Shark Attacks Kelly. I'd prefer a clean ending of Shark Attacks Skiers.
The sound quality is great given the mentioned conditions of the tapes. Some degradation is apparent is some tracks (Kay Rides The Wale, Tunnels and Tentacles) specially in some sustained notes (and that's the reason why I'd recommend to keep the original album on which the End Titles and Sea World Opening Day sounds better). But most of the tracks sound very good with no hiss and great dinamics.
On the sequencing here is the film order of the tracks for those who might want it (including the unused tracks):
1) JAWS 3-D - Main Title (Film Version)
2) First Underwater (only the first 7 seconds are used - the last 13 seconds are used later in the film as a stinger for Overman's death
3) Shark Thru Gate (also used in the previous scene when the shark approaches the skiers and later when Kay sees Overman's body)
4) Kay Rides the Whale (fades out in the film after the first 50 seconds)
5) Sean Arrives (Source) - also used latter, when tourists visits the underwater tunnels)
6) Overman's Last Dive (this track is not used in the film [replaced by the final part of Undersea Kingdom and the stinger that ends teack 2] - this original version it matches an early cut of the scene "workprint cut" available at Youtube)
7) Rock Bar (Source)*

Exterior Bar (Source)*
9) Love Scene (Revised)
10) Boys in the Raft (only the first 7 seconds are used)
11) Apartment (Source)*
12) Kay Meets Phillip (Revised)
13) Sub Search (Revised) - [you can mix "Cd2 - Sting 4" at 3'20" for the moray eel scare]
14) Dolphin Chase (Telex Version)*
15) Lunch Restaurant (Source)*
16) Philips Gear (unused)
17) Night Capture (Revised)
18) Shark Drop (unused)
19) It's Alive-Sea World Opening Day-Silver Bullet (It's Alive is the film version but Opening Day and Silver Bullet are different to the film versions)
20) Country Music Show (source) - This track occurs between the film version of Opening Day and Silver Bullet - both included in CD2 track "Park Opening" - from CD2
21) Park Opening (Revised)*
22) Tunnels and Tentacles (source - mostly unused)
23) Baby Shark Dies
24) Almost but no Bite (only partially used)
25) Restaurant Source (Flute & Harp)
26) Shark Breaks Loose+Shark Loose (the film mixes portions of these two tracks for the scenes on which the big shark swims towards the restaurant)
27) Shark Attacks Skiers (this track cross fades - out of order - the track for attack on the skiers with the track for the shark apearing in the restaurant [which was "clean" in the album version of "Panic at the Sea World"] and ends with unused material)
28) Hawaiian Drums (Source)* - this track occurs after the shark appearing in the restaurant
29) Guitar Show (Source)* - this track occurs before the attack on the skiers
30) Shark Attacks Kelly
31) Shark Rams Tunnel (Revised)
32) Live Bait
33) Ready to Dive (unused)
34) Phillip's Demise (Revised) - in the movie the ending of this track is replaced with a portion of Shark Attacks Skiers.
35) Pull the Pin (Revised)
36) Shark Theme (Utility No. 2)* - this is the track used for the shark breaking loose from the filtration pipe were it was trapped
37) Shark Wants Out
38) Shark Chases Mike and Kay
39) We're Saved
40) Shark Breaks Thru Window (Telex Version)* - this is the film version
41) The Shark Gonna Hit Us
42) Shark Guts (unused)
43) Jaws 3-D End Title
How I prefer to program (without the source music in the score program) / tracks with * are from CD2:
1, 2, 3, 4, 6, 7, 8, 9, 12, 8*, 14, 16, 11*, 17, 29, 21, 22, 23, 24, 26, 28, 30, 19*, 31, 32, 33, 16*, 35, 37.
An alternate program I like replaces:
- Track 1 from CD1 with track 1 from CD 2 (the film versions includes some inserts edited in the track, I think the version without the inserts plays better);
- Track 12 from CD 1 with track 10 from CD1 (depending on your preference - I prefer the film version)
- Track 14 from CD1 with track 10 from CD2 (I prefer the track from CD2, it is extended from the film version and IMO plays better)
- Track 28 from CD1 with track 13 from CD2 (I got used with the extended version from CD2 that was in the album)
- Track 32 from CD1 with track 15 from CD2 (again I got used with the album version at CD2)