Taking Off looks and sounds great on this Park Circus blu-ray.
The only real extra on the disc is "Before Taking Off," but this is an excellent (essential) interview with the director, Milos Forman, which provides context and perspective on the film. You can safely watch this interview before the movie, if you want, without spoiling your experience. It might make the first viewing even more fun.
It is worth buying this disc to see Kathy Bates playing guitar and singing a folk song about flying horses that she composed. YouTube doesn't do justice to this performance. You need to have the blu-ray to play this over and over, whenever you want, in high-definition.