Not nearly as good, this one cuts away to a Star Wars scene, but the one I first saw just redid the Jaws explosion with that newer death-star explosion effect but actually stayed in the water scene. It was funny as hell.

1981 Release:
Like the other films in the series, the 1977 crawl begins to roll before the Star Wars logo dissolves. The 1981 re-release has the crawl begin after the logo has dissolved. The subtitle "Episode IV: A NEW HOPE" was also added to the opening title crawl upon the film's 1981 re-release, one year after Episode V was released with its full title. The new opening crawl also capitalized the word 'Rebel' in 'rebel spies', which was not capitalized in the original 1977 opening crawl. This altered the formatting of the text to accommodate the two additional lines, and slightly changed the timing so the crawl no longer appears at the same music cue. (This last change had been present on Empire's initial release, and would remain on all four subsequent films as well.) The "Episode IV: A NEW HOPE" subtitle would appear in all future releases of the film with the exception of the 2006 bonus DVD release of the unaltered film.
The film was initially released in 70mm 6-track audio (closer to the equivalent of a 4.1 track as opposed to a 5.1 track). The wider 35mm release had a 2-track Dolby Stereo matrixed 4-channel optical soundtrack. A mono mix was released in June 1977 for exhibition in cinemas with no Dolby Stereo support, which contains some changes from the stereo version (some of which were incorporated into subsequent releases if noted):
A different klaxon, closer to the one heard in the Death Star, is heard in Tantive IV after the ship has been hit.
Beru Lars is voiced by a different actress (or possibly different takes by the same actress).
R2-D2 beeps while he is looking at a dead Jawa during the damaged Sandcrawler scene. This sound was inserted into the 1993 Definitive Collection and also appears on the 1997 Special Edition, the 2004 DVD and the 2011 Blu-ray.
As Luke, Obi-Wan, C-3PO and R2-D2 head into the cantina, the cantina music can faintly be heard in the background.
The cantina patron known on set as "Snake Head" (known later as Dice Ibegon) makes chirping sounds in the mono mix. A truncated version of this sound appears in the Definitive Collection mix, while the full sound effect can be heard in the Special Edition, the DVD and the Blu-ray.
When the two stormtroopers walk by Han and Chewbacca in the cantina, Chewbacca growls softly. The growl was added to the Definitive Collection and also appears on the Special Edition, the DVD and the Blu-ray.
While searching for the droids in the streets of Mos Eisley, the stormtrooper says "All right, check that side of the street. It's secure. Move on to the next one." Instead of "All right, check this side of the street. The door's locked. Move on to the next one." The line is also heard in a different voice in the mono mix.
Chewbacca growls softly right before Han says, "Anyway, we should be at Alderaan in 0200 hours." This growl was incorporated into the DVD mix and Blu-ray but does not appear in the previous Definitive Collection mix or Special Edition mix.
The chess monsters make more noise and sound more vicious. The DVD mix is different yet again, incorporating elements from both earlier mixes.
When the Millennium Falcon comes out of hyperspace there is a pronounced deceleration or winding down sound effect.
After Han says, "Chewie, jam its transmissions" a radio frequency type sound effect is heard when Chewbacca flips the switches.
A different sound effect is heard when the Millennium Falcon gets caught in the Death Star's tractor beam.
C-3PO's tractor beam line was added to the mono version. This line was also included in the 1985 VHS release, the 1997 special edition, the 2004 DVD version and the 2011 Blu-ray edition. It was not included in the 1993 Definitive Collection mix.
When reporting the disturbance in the detention block to Tarkin, the voice over the comlink says, "Governor Tarkin?" before "We have an emergency alert in detention block AA-23." It is also said in a different voice.
When Chewbacca beats on the door in the trash compactor, a knocking sound is heard. This sound returned with the Special Edition, DVD, and Blu-ray with a metallic clank to it.
C-3PO's line, "Use the comlink? Oh my, I forgot, I turned it off." is from a different take.
Luke's line, "What good will it do us if he gets himself killed?" is from a different take.
The hard echo effect for Luke's line, "I think we took a wrong turn." is removed.
After Luke hands Leia his blaster in the chasm swing sequence, it sounds like Dirty Harry's .44 Magnum when she fires it. This is present in the Special Edition, but was changed back to a standard blaster sound in the DVD and the Blu-ray.
The line "Close the blast doors!" was in the mono release. This line was also included in the special edition, the DVD version, and the Blu-ray. It was not included in the Definitive Collection mix.
Some of the Lightsaber sound effects were slightly more pronounced in the Darth Vader vs. Obi-Wan duel. These were added to the DVD release and the Blu-ray.
Various beeping sound effects were heard when Luke charged up his gun turret in the Millennium Falcon. These sounds returned with the DVD release.
The first three lines of Luke and Han's conversation about Han getting his reward and leaving are from different takes.
Most of the static is removed from the voice-overs heard in the control room and in the fighter planes during the Death Star battle.
Different sound effects are heard when the X-Wings lock their S-Foils in attack position. These returned with the Special Edition.
Porkins' final scream is not heard in the mono mix.
The lines counting down the Death Star's time to firing are in a different voice.
Luke says "Blast it, Wedge! Where are you?" instead of "Blast it, Biggs! Where are you?"
Ben Burtt supervised remastering of the sound mix for the 1985 VHS/Laserdisc release, which contains C-3PO's tractor beam line. Aside from this line, better dynamic range, and a slightly wider stereo image, this version is almost the same as the 1977 stereo mix.
Another remix was produced for the 1993 Definitive Collection Laserdisc (which was repackaged in 1995 and known as the "Faces" VHS/Laserdisc release) and the 2006 bonus DVD release. This mix was a matrixed stereo version of the 1977 70mm 6-track mix, with brand-new sound effects added, such as glass shattering when Han and Luke shoot the cameras in the detention block. C-3PO's tractor beam line is, again, not present in this mix.
The color timing in the Definitive Collection was altered slightly in the scene with R2-D2 in the canyon before he is captured by the Jawas. The original version of the scene takes place in daylight, while the color in the Definitive Collection version is adjusted to make it appear more like twilight. This was further changed in the Special Edition, when the image was darkened and the sky altered from blue to an orange sunset.

1997 Release:
Additional dewbacks and search teams are visible as the Stormtroopers look for the missing droids. An Imperial transport can be seen taking off in the background.
There is a new shot of an evening Tatooine sky that tilts down to show the opening of the scene in which R2-D2 is wandering through the hills before he is captured by Jawas.
The Jawa sandcrawler has been revised. The sunset progression has been enhanced, with the sky darkened and stars added at the end of the sequence. The scene where R2-D2 is captured has been tinted red to resemble a sunset.
The interface on Luke's viewfinder has been altered as he looks for R2-D2 after eating dinner
A new digital matte painting of the sandcrawler and extended sky was added when the Jawas are setting up shop in front of the Lars farm. Artificial zooming in is also present. More vaporators have been added, but they disappear in subsequent shots.
There is a new establishing shot of Ben Kenobi's hut.
Mos Eisley is bigger and busier. Family members of ILM employees wore costumes and walked around a bluescreen mat. Their images were composited into the new scenes.
Dash Rendar's ship, the Outrider, can be seen taking off in the background when Luke's landspeeder enters the city.
The blur under the landspeeder caused by poor image quality from repeated optical compositing to obscure the wheels of the landspeeder with a hand-animated haze was removed and replaced with a new, more accurately shaped shadow.
A short pause of the camera features a Jawa being bucked from its Ronto mount.
New aliens are seen in the Cantina.
In the cantina, Greedo now fires first as Han dodges the shot then returns fire on Greedo. This is one of the more famous and controversial changes to the film.
A CGI version of Jabba the Hutt confronts Han in the Millennium Falcon's launch bay with new dialogue recorded in the Huttese language. The live action footage in the scene was from the original 1976 shoot. This scene also includes Boba Fett.
There is a new scene in the Mos Eisley docks of the Falcon taking off.
The explosion when Alderaan is destroyed by the Death Star has been completely redone using the Praxis effect (so named for a similar effect seen in Star Trek VI: The Undiscovered Country).
The Death Star docking bay is revised to be more consistent with the one seen in Return of the Jedi, most notably in the overhead shot when the Millennium Falcon has landed.
C-3PO's line describing the tractor beam's power systems has been put back in after being deleted in the previous stereo sound versions.
The flashes of blaster impacts on some of the Imperial officers were censored.
When Han Solo is chasing a squad of Stormtroopers on the Death Star, instead of running to a dead end, he ends up at a hangar bay with seemingly hundreds of Stormtroopers and officers.
"Close the blast doors!" is put back into the scene where Han and Chewbacca, pursued by Stormtroopers, jump through the doors as they close.
Two shots of the Millennium Falcon approaching Yavin have been completely re-shot.
The Falcon can now be seen landing on the 4th moon.
A new digital matte painting is used in the establishing shot of the Rebel base temple.
Additional fighters have been added to the matte painting of the Rebel hangar.
A scene between Luke Skywalker and Biggs Darklighter just before the Battle of Yavin has been inserted.
There are new digital shots of the X-wings and Y-wings taking off from Yavin (in the original version, they just appeared as white flashes) and approaching the Death Star. Additionally, the attack force's approach to the Death Star is now presented as a single shot, as opposed to two separate shots in the 1977 original.
There are new and revised dog fighting and attack run scenes during the battle at the Death Star.
After Red Leader's unsuccessful trench run, the line "He's on your tail!" was added to the film.
The shot of the Rebel fighters flying away from the Death Star has been revised.
The Praxis effect shockwave was also added to the destruction of the Death Star.
Matte paintings (or cardboard cutouts) of the members of the assembly on the left and right sides of the Throne Room at the end of the film when Luke, Han, and Chewbacca approach the throne have been digitally replaced with real humans.
James Earl Jones is now credited.
"Luke's Theme" is partially repeated in the ending credits music to make room for the Special Edition release credits.