Criterion has released a terrific 5 disc (Blu-Ray/DVD) version of IT'S A MAD (4) WORLD with many great extras. The collection contains both the restored roadshow and the general release version of the picture.
I watched the restored roadshow version last night, and I was disappointed. I really like the movie, but next time I watch it, I'll stick with the general release version.
The problem with the 30 minutes longer "restored" roadshow version is that, with one possible exception, none of the restored footage is really necessary and none of it has been color corrected, so that it's inclusion is distracting. In several cases, the picture elements are missing altogether, so we only have the sound track and production stills, while in others missing lines of dialogue are covered by subtitles. There are even a couple of shots that, apparently, come from a Chinese (?) version of the movie, complete with Chinese (?) subtitles.
The one sequence that would have been nice to have in the film is phone conversation between Spencer Tracy and Buster Keaton, which explains Keaton's purpose in the latter part of the movie. Unfortunately, the picture portion of this scene is lost, replaced by stills, so all we have is the soundtrack.
I know that many people enjoy these "restored" versions of classic films (e.g. A STAR IS BORN, LOST HORIZON) that replace missing footage with production stills, but aside from any academic benefit, I do find these reconstructions difficult to watch because they take one out of the movie.
