It's worth every penny of $50 bucks. You won't necessarily spend 50 bucks on it if you do a little hunting, as both Perkar and I have found nice lots with copies of Sonic LE in them, but stand alone Sonic LE ebay auctions will end in the $50+ range every time.
Orangest:
The image you linked to in that old post isn't a different disc. What Hollywood Video did with a majority of the copies was just put a Hollywood Video disc shield sticker on the disc. Of the two copies i've owned one had that sticker (and was a Minty Mint copy) and one didn't (which isn't perfect, but pretty good considering where it came from).