Without having a copy of the vhs in my possession i cannot say for certain whether or not it has the original ending narration.
It is fairly obvious why the change was made since part 2 was never made and will never be made.
The only things produced on part 2 the script, storyboards and A and B rolls of film and some animation cells.
The A and B rolls apparently are no longer in existance and for years bakshi has been selling the production art so no preservation can now be made.
His site has the deleted scenes mostly unfinished from part 1.
I have always wanted to read the script by Peter s. Beagle and he tried to have it published but was blocked by Saul Zaentz inc. His script before it was revised and filmed was way more faithful l to the tolkien books than any Peter Jackson tinkering.
The score is way too much like star trek IV, or star trek IV score is too much like lord of the rings in actuallity since the composer Leonard Rosenman plagiarised his own work. Who can blame him as the lord of the rings film made no money and was a box office flop of the ages.