But since the 2nd show on the "Vault" release is intact (in terms of Ed McMahon and the music from the Tonight Show Orchestra), why do you suppose this is a hit-or-miss proposition? It seems odd to me that its not consistent.
So, is the second episode 100% as-broadcast (no music replacements at all, not even the opening theme or Ed's NBC Orchestra voiceover?). If so, then yes, that is bizarre. Normally I'd guess they couldn't clear everybody (maybe a substitute player in the band?), but since this episode is supposedly one that was cleared for sale "direct from the archives" on VHS years back, one would assume if it was clearable then, it would also be clearable now.
If they have intentions of truly uncut shows (if the second one on the disc is) and some obstacle (paperwork, or expensive person/music to clear), then I think they would have been far better off to have picked a "safer" episode instead of one they had to edit, even if it had to come from 1973 or later. I'm sure there would have been far more positive response if they had done that and had two truly uncut episodes on there.
Though I would love for the episodes to include the band playing during the "local" commercial breaks, I can understand why those bits might be trimmed out, since only people watching via satellite would've had access to those performances back in the day. All the other changes are inexcusable.