Which DVD Version to Buy
There are some key differences between the 2002 and 2005 DVD releases of Muppet Treasure Island. I have viewed them both, so you can decide which version is the best for you.
The 2005 "Kermit's Anniversary" edition features both full screen AND widescreen versions available on the disc. This is a great option if you simply MUST have widescreen and will accept no less. However, if you're a hardcore Muppet fan and would like a little background information on the making of the film, you're out of luck with this version, which does not feature commentary or behind-the-scenes features of any kind.
On the other hand, the 2002 DVD release DOES include audio commentary with director Brian Henson (as well as the occasional scripted comment from Gonzo and Rizzo). Interspersed throughout the commentary are little behind-the-scenes featurettes and interviews with Brian Henson and Tim Curry. However, this version is full screen only.
So you have to weigh which you would prefer.