Yeah, realistic the way you get chopped in half, your top half slowly sliding away to reveal that you were hollow like a chocolate bunny with no bones or internal organs, and then your top half blinks away into thin air. That kind of realistic? If that's really the most important aspect of the game to you -- more than new characters, new gameplay features, etc. -- just keep playing 1-4. Why do you even need a new game?
And it didn't get "edited for home release". As posted above, the MVS version is identical. If this were an actual case of censorship, where the Japanese were getting the fatalities, and we weren't, I'd be hollering as loud as anyone. But that's not the case. If I start hearing about things that are in the JP bios but not in US bios, then I'll get mad.