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I was not happy with the way that MST3K treated this fine film. They cut the scene with Uncle Henry and his "Wild Shark" theory. However they apparently have added a featurette which is intriguing. Note the long wait time on Amazon, maybe a used copy might appear after Christmas.
For The Horror of Party Beach, you get another introduction by Pehl, the Return to Party Beach: Making the First Horror-Monster Musical featurette, and the original theatrical trailer. - source thedigitalbits.com