The original John Browning design for the 1911 uses an internal extractor that is fitted into a hole in the slide and is held in place by the firing pin stop. When Smith and Wesson came out with their 1911, they used an external extractor similar to what you would see on a .22 like the High Standard line.
Bottom line; they both work, but it's probably easier to work on the original design if you're having an extraction problem than the S&W design.
Firing pin blocks came out in the Series 80 Colt pistol in response to some safety concerns (you know, lawyers). Big complaint is, it's harder to do a trigger job on a Series 80 versus earlier pistols without the firing pin block.
Extended slide releases were an add-on for various combat courses, etc. Never used one, so someone else will have to answer the rest of that question.