This contains four discs per film - and for the price not a bad deal me thinks...for DVD...(prob cheaper elsewhere...)
Heres a review from amazon:
The extended editions of Peter Jackson's The Lord of the Rings present the greatest trilogy in film history in the most ambitious sets in DVD history. In bringing J.R.R. Tolkien's nearly unfilmable work to the screen, Jackson benefited from extraordinary special effects, evocative New Zealand locales, and an exceptionally well-chosen cast, but most of all from his own adaptation with co-writers Fran Walsh and Philippa Boyens, preserving Tolkien's vision and often his very words, but also making logical changes to accommodate the medium of film. While purists complained about these changes and about characters and scenes left out of the films, the almost two additional hours of material in the extended editions (about 11 hours total) help appease them by delving more deeply into Tolkien's music, the characters, and loose ends that enrich the story, such as an explanation of the Faramir-Denethor relationship, and the appearance of the Mouth of Sauron at the gates of Mordor. In addition, the extended editions offer more bridge material between the films, further confirming that the trilogy is really one long film presented in three pieces (which is why it's the greatest trilogy ever--there's no weak link). The scene of Galadriel's gifts to the Fellowship added to the first film proves significant over the course of the story, while the new Faramir scene at the end of the second film helps set up the third and the new Saruman scene at the beginning of the third film helps conclude the plot of the second.
To top it all off, the extended editions offer four discs per film: two for the longer movie, plus four commentary tracks and stupendous DTS 6.1 ES sound; and two for the bonus material, which covers just about everything from script creation to special effects. The argument was that fans would need both versions because the bonus material is completely different, but the features on the theatrical releases are so vastly inferior that the only reason a fan would need them would be if they wanted to watch the shorter versions they saw in theaters (the last of which, The Return of the King, merely won 11 Oscars). The LOTR extended editions without exception have set the DVD standard by providing a richer film experience that pulls the three films together and further embraces Tolkien's world, a reference-quality home theater experience, and generous, intelligent, and engrossing bonus features