I bought my copy and watched episode 666 before I even read the Muppet Central review. After looking at the episode page on Muppet Wiki I suspected that a sketch was shown between Rodeo Rosie's debut and the Roosevelt Franklin sketch. I noticed a few other films that I didn't recall reading about on Mupet Wiki's page, and when I saw Beat the Time, I figured that it was cut from the episode, was aware that the episode featured Dialing for Prizes, and thought it was weird that two Guy Smiley game shows would be included in the same episode (I guess it's not any more weird than an episode having many different skits with certain characters, which was very common back then). By the time the episode had ended I had forgotten about Dialing for Prizes, until I looked at that episodes page on Muppet Wiki and realised that Beat the Time is in the spot where Dialing for Prizes would have been. And I think it's safe to assume that the episode didn't originally feature both skits. It would be werid for two Guy Smiley sketches to be shown back-to-back in the same episode.
At first I was thinking that this set has less edits than the first set, but now that I think about it, excluding the copyright changes, it has about the same number of edits. One entire sketch is known to be cut, the ending of a sketch is cut, one whole sequence was cut from the pilot, and part of the end of the pilot is cut.
Looking at the review, I am glad that The Nobel Ostrich is included. And it's great that the set has some bonus skits as easter eggs, even if they are all animated ones. I would have hoped that if any skits were easter eggs, they would be ones that might have questionable content, like I Want a Monster to be my Friend. Or something really rare like One Song (Song of One) or a Professor Hastings skit (yes, I'm aware that these aren't from the late 1970s).
It seems like this set is an improvement over the first set.