Also watched my "Code Red" DVD of "Nightmare" and I stand by my earlier verdict: The bits of extra gore compared to the UK release aren't THAT much to write home about, the overall presentation and quality of the CR release is though, with an informative audio commentary and interviews.
I find it hard to spot the difference in pq between the version on disc 1 and the other on the 2nd disc, but both are obviously doing the movie a far better service than any previous (dubious) release on the market.