It's likely that most fans interested in this release have already seen "Redemption", the two-part cliffhanger that bridged TNG's fourth and fifth season. In short, this politically-charged story centers around Worf's desire to clear his family name, the possibility of a Klingon civil war and the reveal of a mysterious woman that resembles a former Enterprise crew member. As a two-part episode, it's quite good. Most "Top 10 TNG Episode" lists won't mention it, but it's definitely an above average story that fans should enjoy revisiting.
This new "feature-length edit", like the one created for the Blu-ray release of "The Best of Both Worlds", is a little weak. Both halves are simply mushed together with no real transition...and though some time has passed between the events of Parts I and II, you wouldn't know it by the way the two scenes are suddenly cut together. I'll definitely watch it "the traditional way" in the future; like "BOBW", some things just can't be improved by further editing. I don't mind getting up to switch discs, honest.
The Blu-ray tech specs, on the other hand, are fantastic. As expected, the A/V presentation is top notch, with brilliant picture quality and two different audio mixes (7.1 and the original 2.0 stereo). Two terrific extras are also included, a 30-minute behind-the-scenes documentary with members of the cast and crew, as well as a full-length audio commentary with writer Ronald Moore and Michael & Denise Okuda. Overall, it's a decent buy for TNG collectors, but only if you have money left over after buying the fourth season. Like the "BOBW" Blu-ray, this is just an interesting curiosity.
For more information, please read my complete review at DVD Talk, which is not affiliated with Amazon. http://www.dvdtalk.com/reviews/61356/star-trek-the-next-generation-redemption/