This is the third release of Transformers: The Movie on DVD, and it is the best that there is to find.
The original DVD release from Séville pictures, and it's successor released by Rhino Home Video have nothing on this.
First and foremost: This edition is released by Sony, so you know they weren't scrimping on the reproduction of the film. It's a high quality transfer, great sound.
If you're going to shell out money on a Transformers: The Movie DVD, this is the one to get. However, there are a few things you should know about it:
1.) The "bonus footage and deleted scenes" are a small collection of clips, mostly test shots and unfinished scenes, and they show the promotional trailer of the film which features alternate versions of a few scenes, and ones that were cut out of the film. However, you've got the captions over top of everything and a commentary track you can't turn off.
2.) The presentation of Scramble City, additionally has a commentary track you can't turn off, so the original Japanese audio is lost, and you've got some guy from the Transformers Collectors Club and one of the anal-retentive G-1 purists from www.tfw2005.com going on about the difference between Japanese and American Transformers (with obvious contempt and/or disdain.) Additionally there are no English subtitles. So if you want to watch a Transformers episode dubbed over by two guys who's opinions you don't care about explaining to you what's going on, on the screen, then this is for you. As for myself, I would have preferred if they kept the original audio track and had subtitles in English. That would have been a nice touch.
3.) This is more for the sake of humor than a complaint or observation, but all of the old Transformers toy commercials are of poor quality (In fact, you can find better quality versions of them online if you look hard enough) and they also blurred out the faces of live people in the commercials (for obvious legal reasons, it's funny to watch) it's also funny watching the Japanese versions of these commercials that were just dubs of the American toy commercials.
4.) The story board pictures are the same ones featured in the Rhino release.
Other than that, I would have to say the bonus features aren't really that exciting, or interesting, or worth the hype. If you're going to buy this 20th Anniversary edition, buy it for the GREAT quality version of the movie. Otherwise your going to be disappointed.