From Kino:
"Besides the color correction (removing the yellowishness) we also made the following corrections and adjustments to create our 161 Minute cut of the Theatrical version:
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The “flip cut” transition/optical wipe from “Tuco talking to Blondie and taking a bite of his cigar to being hung” was restored to its original version
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The fadeout to black of the “gun shop owner with the sign in his mouth” scene is now a cut to exodus scene.
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The fadeout of the “Blondie passing out as Tuco is bringing him water” scene happens exactly 1 second later than how it was on old MGM DVD release of the Theatrical Cut.
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The dissolve from “night” scene to “coach arriving at the mission” scene now fades up from black
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The shot of the train leaving the station (with Tuco and Wallace on it) was supposedly longer in the US theatrical cut, before cutting directly to Tuco in the train and not dissolving out earlier to the early morning camp scene - Our 4K of the 161 minute cut matches the old MGM DVD of the theatrical cut exactly."