Yeah the Ulysses cut of Waterworld is pretty much 3 hours

The Arrow blu-rays are really good for getting alternate cuts of movies as well as loads of extras. Also a lot of the releases they've done restoration work so it looks better. The commissioned artwork for the covers is also really nice.

I've got Caligula, Donnie Darko and Pitch Black which come with alternate cuts while ones like The Thing, Big Trouble In Little China and 12 Monkeys have just been restored