Since this listing on Amazon.UK is for a new, April 2012 release from a respectable home video studio, I am hoping it is the unabridged original version as aired over multiple nights on US TV back in the day. Maybe a reviewer will step forward and tell us, since Amazon's listing here provides no such vital information. I have a multi-region player and would buy this IF it is the full-length cut; otherwise, there's not much point in being disappointed again. I could buy an NTSC region 1 disc if I wanted a botched-up edited copy. And the VHS tape is available cheap and just as long.
While not as spectacular a production as James Cameron's massive moneymaker, it does feature quietly effective performances from a very good cast and generally holds to the truth of things as far as they can be known (or were thought true back in the 1980s). The effects aren't as breathtaking, but it's a very enjoyable take on the Titanic story -- for a long, long time, this was the most elaborate and well-done Titanic epic ever made, and it still merits a complete, intact release.
UPDATE: see the comments section. I'm told that this is in fact the same badly butchered print that has been long available as a Region 1 DVD. At least 40 minutes, perhaps more, is missing, and the movie suffers as a result. Just docked two stars from my review. Studio Canal should have done better by its customers.