Nausicaa is easily one of the greatest animated films ever made - it was the second directed by Hayao Miyazaki (Mononoke) - but the truncated English dub is, well, not good (it's lost about 25 min, important story points are muted, and the voice acting is laughable). If you find the video (it's called "Warriors of the Wind"), I'd still recommend watching it, but realise that you're seeing only the inferior representation of a great film. Anyway here are some of the main differences:

In the dub, Nausicaa is called "Princess Zandra" for some reason. Kushana is "Queen Selena" and her right-hand man (I forget his name in the dub) is actually called "Kurotawa." Uncle "Axel" is actually Uncle "Mito" and "Placeda" is in fact "Pejitei."

Otherwise I can only think of one real nit: Nausicaa seems excessively adept at dodging bullets during the aerial battles .

Now that Beuna Vista's releasing the Studio Ghibli Collection (in Europe at least), could there be a (Uncut)version of "Nausicaa of the Valley of the Wind" out soon on DVD ?

Indeed! Buena Vista will be releasing all of the remaining Miyazaki and Ghibli films they hold the rights to, including Nausicaa.

Naturally, as per the agreement Ghibli has with Disney, Nausicaa will be uncut.

Uncut Nausicaan GOOD, hu-man.

Of course, those Nausicaans *are* named for the Princess of the Valley of Wind.

Of course, hu-man. Now we go play dom-jot.

Can we test our Nausicaan poster, for traces of Intravenous Plutonium...?
In other words, "Can you say mandatory, random Drug test ! I knew you could..."

It seems that a uncut Nausicaa is now out on Region 1 DVD, so how long before a uncut Region 2 version turns out...
(The U.K version of "Warriors of the Wind" reportedly had 50 minutes cut, when released on VHS in the late 80's)

I saw part of the dubbed version and all of the subbed version on TCM yesterday.There wasn't too much difference in the TRANSLATION between the two,not that made too great a difference.What,IMO made the original Japanese version slightly better was the acting.This is what happens when you get actors who are used to working in animation as opposed to celebrities.
I thought that this especially became clear with the way Nausicaa was given a bit of a warmer interpretation by the Japanese seiyuu playing her.Also in the dub the older characters come across as just stock characters with no real depth,whereas in the subbed version there is more depth of character and respect given to them.
The only real qualm with the subbed translation I had was the use of the term Sea of Decay for the forest instead of Jungle of Decay as in the dub,I think this is one of the few places where the dub is actually better.
Some other differences in dialog:
Ashbel says in the dub after eating the cicho nuts:"How can something so good for you taste so aweful?"while in the sub he says:"These taste weird!But I could eat a boot-full!"
Kushana asks the Giant Warrior in the dub:"Aren't you supposed to be the most Evil Creature ever?"
but in the sub:"Aren't you descended from the most
Evil Tribe?"
Also in the dub they take out Nausicaa's prayer to the Wind God and instead she says something like:"I hope we get there in time!"
Finally I would like to say that Kushana is a much better character in the sub than in the dub version.And bear in mind that I normally am more of a dub than a sub fan so when I say I perfer the sub to the dub of Nausicaa it only shows how much better it really is.

Kushana is an even better character in the original manga (her limbs are also intact). It was called the "Sea of Corruption" in the manga too.