The TV cut honestly looks pretty rough, but I imagine that’s as good as it will ever look
I watched the TV cut and it’s different than the mkv that I saw. The mkv has a channel logo throughout and audio on one channel. I only watched the beginning of it as I got bogged down on doing A/B comparison with the movie cut before writing down the minute differences with time codes. I’ll have to watch it again and see if it’s the same cut as provided on the BD extras.
Regarding the broadcast TV cut on the BD set, that’s probably the version I saw on a major TV channel. I’m guessing Universal probably has broadcast quality tape somewhere, but probably due to budgetary reasons it was not used and we got a VHS recording instead.