I saw this on a commercial TV movie channel, in two parts. The intervening adverts, seemingly endless, inevitably chopped up the film so much that it spoiled the experience for me.
With an incredible cast - Bob Hoskins surprisingly effective as the surly Mussolini, Anthony Hopkins as Count Galeazzo Cianno and Susan Sarandon as Cianno's wife and daughter of Mussolini, this should have been an incredible epic that everybody would now have seen.
I'm no expert on Italian history and this history lesson was interesting but not compelling enough, for me - not for 4 hours, at least. The 4:3 screen ratio cried out for huge TV widescreen and it remained a rather dingy looking TV movie from start to end. There were some good set pieces, particularly toward the end but I have an overwhelming recollection of long discussions in state rooms.
It may be worthwhile buying the DVD to eliminate the pesky ad breaks and to re-watch, as there is so much going on and one is slightly overawed by the great cast that it would benefit from a repeat. If one had the extra incentive of wanting to know more about the subject, then that is more of a reason but for most and bearing in mind the current price, I wouldn't say that it is worth it. Though, if you have the requisite TV package and it comes on, then, yes, go for it.