The Blu was the uncut Australian version (Hence the MM2 title card) in remarkably clear video. The only big problem with the disc was the fact that the color timing was completely lost and the desert became clear with big blue skies instead of the dark browns of a wasteland. The original US DVD has the proper color.
Image comparison: (US DVD vs. Blu)
http://www.blu-ray.com/images/reviews/upload/cc1.png
http://www.blu-ray.com/images/reviews/upload/cc2,jpg.jpg
http://www.blu-ray.com/images/reviews/upload/cc3.jpg
The 5.1 remix is only 640 kbp/s and there is no theatrical audio. The commentary was a nice touch though.