This is a reprint of what I just posted in the forum, for those of you who don't keep up with it.
If you are going to be picking up the Collector's Edition (and what kind of insanity would stop you!?), I'd like to let you know that it's a good idea to get one of your characters up to right near the end of the game. Doesn't matter if they're in Madcap mode or normal mode, just so long as they are ready to win the game soon!
This is because you need to finish the game (either mode) in the Collector's Edition to unlock the commentary. So if you have someone ready to do it, you'll be able to pop right into the commentary! Yes, you will be able to just install the CE over the regular LL2 and continue from where you were.
The requirement to finish the game was just to prevent spoiling things, so that I was free to talk about everything in the commentary, since I know you've won the game already.
There are also various "Gallery Goals" you need to complete to unlock the gallery pictures. Good luck finding them, they are wacky. Some of them can only be attained in Madcap mode. Speaking of which, the new arena battles only exist in Madcap mode, so that's something else to enjoy in Madcap. They are very advanced, so you won't win them until you get a lot of crystals.
According to all those facts, your best bet is to get a character as far as you possibly can, without finishing Madcap. Or if you are adventurous, finish Madcap, then get near the end of it again - that'll have you better suited for the bonus battles, which include the hardest and longest battle in the game. Or finish it 5 times, so you're so powerful you can just walk right through to the end. You'll still have a hard time with the final bonus battle!
You have at least a couple of weeks to accomplish this, so go for it! Once I get a chance to make up the CD artwork tomorrow (much too busy with family things the past week!), it'll just be waiting on the printing, shipping, and warehousing, but that is definitely a long process.