What can I say about Ginger Snaps, other than that you should watch it? The morbid humor, the impressive special effects (considering the budget), the talent of the stars, the depth of the underlying themes... it's all so good!
The collector's edition is definitely worth the added price, if only for the deleted scenes alone. I don't want to spoil anything, but it definitely helps further develop some of the characters, like Sam and Pamela. Shame they were cut.