I bought the 4 disk. I haven't watched it yet but the break in the middle is something that concerned me a little in the weeks leading up to the release, mainly because I was worried about where the break would take place. However, it is a minor issue for me now as I have been assured that the break is in a "good spot". So this should be a minor issue for everyone. Yes, I'd rather have it on one disk so that I can choose where I take my breaks (I don't care about dts or the commentaries anyway) but I would certainly not forego the extra footage for it! I consider it to be like watching Stephen King's It, or some other two-part drama. To be honest, I doubt I'm going to end up watching the movie in one sitting anyway and will probably end up watching it over two nights.
I think it would have been sensible to release 2 versions of the extended edition (the other version being one with the movie on one disk, but without commentaries and dts) so that we have a choice, but at the end of the day the people who moan and moan about the film being split are probably the same people who moan about French text on DVD covers. I don't wish to offend, but these people really need to wake up to themselves and release that what they're actually moaning about is trivial and insignificant in the grand scheme of things.