I remember seeing this film on BETA when I was about 9 years old... then, it disappeared from my mind... up until the blu-ray came up. Then, I HAD to buy it and relive my childhood memories as well as watching the characters' antics on screen and what a load of fun it was.
Watching Steve Martin, Chevy Chase and Martin Short is a pure joy, and every actor surrounding them is quite nice to hate or love as well. It's light-hearted, good fun, a movie that doesn't pretend to offer something it won't or can't. It's not 2001: A Space Odyssey, nor is it "Bloodrayne: The Third Reich" either.
Three Amigos is its own thing. A calm but wild ride that doesn't take itself seriously for a minute.
Three silent film actors that have been kicked out of Hollywood now look for work or somewhere to go... then, they receive a letter from a woman saying her village is under the evil watch of El Guapo, a nasty villain with neurotic tendencies and speeches.
Taking the same premise as Ghostbusters (three scientist kicked out of the university now go into business... mmmh, funny, both films have been made by Saturday Night Live actors too...), Three Amigos takes the road to comedy without breaking a sweat. The good old days of 80s comedies.
In terms of special features, we may not have much, but having deleted scenes surely makes it quite valuable, as well as a booklet with an interview of the three actors (compare the booklet to the blu-ray cover... times change) and a 1986 cast interview where they thought the movie would probably get a sequel... Dammit, I wanted it too!