- According to an article written by the film's editor and associate producer Richard C. Meyer, the longest version is the 132 minute version. This has been confirmed by Vladimir Dorsal, the film's First Assistant and later the head of Mosfilm in Moscow. He says that they only have the 132m version in their vaults and no longer 4 hours version ever existed. The myth may derive from an earlier part of Meyer's article when he states that the rough cut was 4 hours long - not unusual for a film of this scope and scale. But after much discussion the present length was agreed on. He also says he stupidly didn't make a dupe of this rough cut, a usual process in post production. So this 'cut' will never see the light of day. It is clear from the cast list that many characters were cut. The film was planned as a Road Show release but by 1970 the practice had lost favor with the studios. Columbia Pictures also shortened CROMWELL for the same reason. Richard Heffer who play a major featured role in the film says the script as filmed was much longer than the film that came out that many of the cast had huge chunks of their roles deleted.
- All UK video and DVD releases are cut by 22 secs to remove horse falls. The B.B.F.C have cut 'Waterloo' in accordance with their policy of censoring scenes showing actual (or what appears to be actual) cruelty inflicted upon animals during filming. For instance, in the British DVD release the scene where the French Cavalry charge the red-coated British squares has lost a few seconds where a horse and rider topple forward after being gunned down. This was cut because of the scene's apparent use of the 'Running W' device, a notorious (and illegal) technique in which a stunt rider charges a horse into a 'W' shaped trip wire to make it fall forwards head over heels on-cue. All horse falls can be seen uncut on the American Region One DVD release.
- On the other end of the spectrum regarding the trivia item in this section that rather convincingly argues for a longer 132 minute version, according to "Book Review: 'Waterloo: Making An Epic- The Spectacular Behind The Scenes Story Of A Movie Colossus' By Simon Lewis (Bearmanor Media)" (the link for which is accessible at the IMDb's page for the film; see the "Related news" section), another convincing argument was made. The author of the book, who appears to have conducted extensive research, calls the longer version a "myth," explaining how the "final cut was 123 minutes and 42 seconds." The confusion took place mainly because "a novelisation by Frederick E. Smith included some scenes that didn't make it into the final print," and the book's author "spends a whole chapter explaining why a longer cut never existed."
- In April 2021, YouTube user "marlbrouk" had put together a "Fan Cut" of the film, expanding the run time to 136 minutes. Here which include Scene 1. The battle of Ligny. Looking at the script, the french army marching past the windmill used later in the film, looks like it was meant to be used as the battle of Ligny. Blucher is on the march! The Prussian cavalry charge used later in the film was almost certainly meant to be used earlier. In the film the images are 'flopped' so the charge goes from left to right, to maintain screen direction. In the battle scenes, the french generally attack right to left and the allies left to right. This is good film direction. The scenes were almost certainly moved later to beef up the Prussians arriving at the end of the battle. In the Fan cut the 'corrected' charge then goes to a still of Blucher unhorsed. This explains why he is wounded a few scenes later. Scene. 2. Wellington and Mercer discuss why his guns are aimed at a hollow in the ground. This explains why the french horses appear to fall over a crevasse in the next scene. Scene. 3. In the script, a messenger rides to tell Napoleon that the farmhouse has fallen, then promptly dies. These pictures appear to be that scene. Certainly Napoleon looks very similar in the next scene. Scene 4. Wellington and Blucher meet. Cutting this scene into the film it was very obvious why it was cut. The triumphalism seems at odds with the sombre mood created in the finished scene. That said it does pay off the narrative of Napoleon nemesis.
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