Usually "unrated" versions of comedies add in more raunchy bits, but in the case of Ted (original review here) which was plenty raunchy to start with, the additional 7 minutes actually water down the overall flow of the movie, adding mostly superfluous material or alternate scenes. (e.g. the reason for the hooker poop changes) It's still funny, but more time away from Ted isn't an improvement.
The making-of extras are brief, but satisfying as they show how they shot the movie with Seth MacFarlane performing in a special motion capture rig while off to the side of the live actors. The hotel brawl gets its own feature and there are a bunch of really unfunny, best-deleted scenes with the exception of the last two involving Joel McHale - the first which hints at a radically different take on the character while the other makes him even worse than in the final film, but it's funny.
Score: 8.5/10. Buy it.