[Professor Farnsworth voice]
Oh my, yes!
[/Professor Farnsworth voice]. I haven't seen The Postman yet, but yeah, it's substantially improved.
The extended version is a well-rounded movie, that's a lot easier to take seriously. It flows very well. And the calmer bits aren't boring. Obviously, there's T.B.S. (Tired Butt Syndrome), but it's worth it.
The theatrical was recut into just another standard action film. ThesePeopleAreGoingThroughThisShitNowIt'sDone. It made minor plot holes, and got rid of a lot of characterization, interaction, backstory (and vauge stuff about the past). It was a pro job, though, there are loads of small trims and segments removed; not just full scenes hacked out (lots more edits than I can keep track of).
Of course, the extended isn't fully polished. And there's stuff that was apparently thrown in as padding, for tv run-time. The director would've probably wanted some more tweaks and trims. So it does call for a fan edit.
An alternate scene-bit is carelessly tossed in --- The old professor suddenly figures out the direction of dry land --- twice. :)
Edit: But I don't want my enthusiasm to get your expectations too high.
McFly presents a more complete review, below. (And I agree with it).