Well, well, well, look what showed up today on the Playstation Store! Rockstar's Bully is now available for $15. The text implies it's a direct port of the Playstation 2 version, which was available as part of the classics catalog for the PS3..
The Scholarship Edition has 8 new missions and a few new characters plus 4 new classes: Biology (dissect a frog minigame), Music (button synch minigame), Geography (match the name/shape of the country to a map) and Math (jumbled math trivia game). They also added some single-console, 2-player-vs. "multiplayer" stuff, but it's not good at all.
Ah thanks, actually, I had the exact same question as Tom. My thinking is that if I'm going to pay for the game again, I'd rather go for a version that has some new stuff I've never seen.
I was not a huge fan of the new minigames, at least on 360 back in the day. I own the PC version because I love Bully so much but since I actually beat it on PS2 (I think the only Rockstar game I've ever beaten) I've never gotten around to diving back in to see the new missions.