It seems like this Blu release is a port of the 2001 DVD release with the following extras (pulled from the 2001 review on dvdtalk.com). MAD WORLD was also released on DVD in 2006 with no extras at all. As for the movie, the Blu Ray does offer clear improvement as far as picture quality over the DVD. At least in my eyes.
EXTRAS::
Extended Scenes: It's during the main menu for this segment that we find out a little more about the history behind the versions of the picture. The material here is taken from a 70mm workprint. The condition of the material varies from scene-to-scene - although they never become unwatchable, there are some definite problems with color and wear during many of them. An additional problem is that, although one can skip to the next bit with the chapter advance button, I found it rather odd that these scenes (and there's quite a lot of them) are not indexed. The other problem, and this is just a personal opinion, is that I didn't find any of them that funny. Although I suppose I'm pleased that the studio took the steps to find them and include them here, I don't think many of them would work in the actual picture that well. I'm not entirely familiar with what version this material came from or if they are scenes completely deleted. It would have been nice if MGM built some sort of index that gave further details about the scene's history.
Something A Little Less Serious: Originally presented on the laserdisc edition of the picture, this nearly one hour documentary mainly revolves around the members of the cast remembering some of the more entertaining moments of production as well as what it was like to work with the other actors.
Also: Trailer & Re-Release Trailer.