I've just read this thread with great interest.

I have the original 21 disk box set, with all of the booklets. The booklets have information on all of the shorts and features plus facts and links to other films, and are a nice addition but not essential if you're already a fan.

The best boxset out there was the german Kinowelt set, which had better prints. As for the missing films, I bought the Fox Dvd sets, but over here, the region 2 sets don't have ANY extras. No commentaries!!
For the rest, I have the TCM archives set, and the Kino Flying Deuces as mentioned earlier, both imported from the States. The Legend colourisation of Babes in Toyland is excellent, but I prefer the old fashioned black and white of the MGM version, which was obtained from their own archives. Their last film is, like The Flying Deuces, Public Domain, and theres loads of knockoffs out there, but the BEST version is on the Dick und Doof Atoll K german disk, which has the longer German cut and the best print I've seen of the English release.
It's good to hear that there is a plan for restoration out there, and they should start with The Lucky Dog, because there isn't a decent full print out there. Yes, there was the Lost Films release, which was quite nice, but it has missing scenes (more importantly, a priceless kick up the backside from Stan to Ollie!) and the PD versions out there are looking very shabby.