I do have this version of the game (and I did give Chris his copy... and Joe Garrity his, and Hades his, I believe). The most notable change (in so far as I can see) is that the game has in-flight speech -- which is kind of a shame, given the fact that Origin went back and dubbed the entirity of Ultima VI for the FM Towns release.
I also have the Towns versions of Armada, Wing Commander II and The Secret Missions. WC2 has equally impressive original art, which you can find in the CIC news archive (I'll do a nice scan of it when I get home).
Collecting weird Japanese ports was a fun adventure... but it's a project to be continued only by someone who has a lot more money than I do now.
Also: WC1 FM Towns comes with a neat plastic-y fold-out star map of the Vega Sector. Wing Commander has always had the short end of the stick when it comes to Origin's wavering policy on cool trinkets... but at least the Japanese were trying at one point.