I just rewatched this film tonight, after having not seen it for many years. OMG, not only does this film still hold up, it puts many modern action films to shame. Amazingly well directed, funny, exciting and griping, with some brilliant action scenes. Very good score by Brad Fidel. Arnold is never better and Jamie Lee Curtis is very good too.
I believe this film is cut in the UK, so you might want to import. Although I have the first pressing of the UK DVD, which had the uncut version on there by mistake. You can find this DVD because it has the old style '15' rating symbol, before they changed. That's the DVD you want. For the second pressing of the DVD, they put the cut version on there.
Update as of 2011: apparently the new region 2 release by 20th Century Fox is uncut.