RidgeShark, I would stick with using the 30th anniversary R1 2-disc DVD set from 2005, (should be easy to get) instead of the Blu-ray. The deleted scenes - with upscaled resolution - should seamlessly (or almost) match the 720p (or whatever) video quality of the main feature.
Don’t bother with the original 25th anniversary DVD release from 2000, as it’s missing content: no original mono audio and - most importantly - the deleted scenes package is truncated. Quint’s black pick-up truck, Cassidy’s reaction to Chrissie’s offscreen remains and Salvatore’s (Quint’s first mate) scenes are missing. Definitely get the 30th anniversary 2-disc R1 NTSC release (no PAL speed-up).
The reason I went to the trouble of putting my edit together in fullscreen, rather than the more attractive widescreen, was solely for the “tackle box” footage being (frustratingly) available only in fullscreen. I wanted all the footage to seamlessly fit within the surrounding material. I didn’t want to be taken out of the film by changing aspect ratios.
I colour corrected the shots as best I could (the bounty hunters killing the shark was a bastard to do - the turquoise Atlantic Ocean water is tough to match to the film). The softness of the picture quality helps mask the difference in resolution between film and deleted material.
I didn’t have a fullscreen copy of the film, (having ditched my old fullscreen VHS copies long ago.) so had to painstakingly crop and reframe every shot from the two hour widescreen film. Only later, did I discover JAWS was made available in fullscreen (R1) alongside the widescreen version in 2000, for less discerning viewers.