You must be "Sensitive Mule" over at SLWB. It appears we're having the same discussion both here and there!

Anyways, I noted all the reel change markers throughout the film but can't find my notes right now. I recall 2 scenes where you can see the oval marker in the top right corner of the film. The first is in the monastery when Tuco is trying to persuade Blondie to tell him the name of the grave and gets a cupful of coffee in the face. An intermission was placed immediately after this scene so I expected to find a reel change marker here. Another marker can be seen when AE's henchman walks back to the rest of his gang who are bivouacked outside of camp and tells them they'll stick around and keep an eye on things.

Thanks for pointing out where the audio/video damage is the same in both LD releases. I'll have a look at this closely.

One thing worth mentioning is that the waveform of the 98 LD is inverted compared with the 90/93 LD. I don't know much about the technical aspects of audio, but it suggests to me that some sort of processing was done that led to this inversion. Here is a screenshot showing the waveforms of the 3 LD releases as well as the Mondo BD:

http://img.photobucket.com/albums/v420/trailerparkboy/BBCGBUPCMtracks_zpsff3ef3de.png

The Mondo BD waveform is taken to another level but even the 98 LD (inverted) waveform is beefed up compared with 90/93 LD.

There seems to be subtle differences between most of the various home releases (VHS, LD, DVD, BD). For instance, the widescreen VHS uses English and Italian onscreen titles. The 90/93 LD has a cut opening scene (when the 3 bounty killers walk into town towards the tavern where Tuco's having a hearty meal) and Stephens/AE dining scene is also cut.