My review:
STAR TREK: REGENERATIONS is easily superior to the theatrical cut.
@MightyAttackTribble (can I call you MAT?) made two significant choices which improved the film. One is Data - he's no longer distracting/somewhat annoying as in the original. This improves both the tone and the flow of several scenes. This also has the effect of allowing the viewer to engage with Data's journey a little more - because he's no longer been distracting us as we watch, when we see him experience pure joy at finding Spot, we're able to feel that with him.
Another is Kirk - cutting so that Kirk's last line is "It was fun", while a small change, allows the character to go out with a little more dignity. Furthermore, incorporating the short film of Spock visiting Kirk's grave increases the poignancy of that event, adding weight to Kirk's end. And tying Spock's visit to the grave to Picard's speech works very well - it integrates strands of the film (Picard's and Kirk's personal struggles, themes of loss and acceptance) more closely, thus strengthening the story overall.
Other changes were welcome as well - the opening on the B flows better, and simplifying the battle works very well. I'm more or less fine with the battle as it was presented, but this is an improvement. The only thing I might have kept is Data exclaiming, "Yes!" I understand MAT's reasoning, but keeping this might work, given Data being overwhelmed by emotions, even during their dire circumstances.
There were two times I noticed a cut, both on the bridge, at different points in the of the film. But I think MAT did as good a job possible given the constraints of the original - I don't think those cuts could have been done any better. The music was well done, the color was beautiful - a very professional edit.
Generations never grabbed the way some of the other Trek films do. But while this edit hasn't made the movie into one of my favorites, it's turned the picture into something far more engaging and enjoyable than the original. The film's pacing and characters improved, I can now ponder a bit more on its themes, and I'm thankful for the edit. This is the version I'll show to my son when he's older - my wife and I give it two thumb's up!
