15 additional video bios
Mortal Kombat 1
A video of the making of Mortal Kombat up until this point

Honestly...you're not missing much of anything. I'm pretty disappointed. For one thing, I couldn't find the Raiden cover as the Wal-Marts here were either not carrying them or sold out. So I got the Scorpion cover as my second choice and thought I did ok...but after going through the disc...well...
"An arcade perfect version of the original Mortal Kombat" - Nope. I noticed several graphics and sound errors, including a GLARING one where in the garden stage the background music is so quiet you can barely hear it. Even playing it on a version of MAME from 2 years ago is better than this poorly done version.
"History of Mortal Kombat" - THIS is what pissed me off. Number one, you can already see this on a number of sites, including, but not limited to, Gamespot. Number two, it's the exact same movie that was on the MK: Deadly Alliance disc, but extended by another minute or so to include this new game.
"Twenty-Five video character bios including team commentary" - Would have been nice...if it wasn't for that fact that nearly half of these are already on the main disc.
Asking someone to pay 60 bucks for a game is stretching it a bit. But when the best part about the "Kollector" edition is the shiny slipcase it comes in - and I couldn't even find the cover I wanted, it borders on ripoff. There isn't even a nifty short film on the making of the game like MK: Deadly Alliance had.
BUT, I would definitely reccomend the regular version. I'm digging this game a lot so far. There's just so much stuff to do in it.