|Japanese Story: Special Edition||R2UK|
The Region 4 version of this disc includes the complete version of the film, whereas the Region 1 version is cut as mentioned in the commentary. As the Region 1 includes 4 extra deleted scenes, I would assume these are the bits cut from the film itself. The Region 2 version includes a DTS soundtrack which according to reviews is better than the Dolby Digital one and also includes the complete version of the film and the same extras.
Based upon the above, the Region 2 wins, assuming you have DTS capability. Otherwise, the local release is perfectly acceptable.