After having sped thru the film I can report the following about this release:
It is not a completely restored English language version.
As I predicted this is the 'commonwealth version' - the version that played in Australia & Canada. It restores two full scenes: - Cuchillo love scene - Monastery scene.
The cane field chase appears to be the full-length version!
So, there are appox. 5 minutes of new never before scene English language footage.
Sadly, the opening scene with Van Cleef and the three outlaws is the poorly edited, misleading, Columbia version. I think all fans were hoping for a GBU style "restoration" - i.e. dubbing the cut footage with voice actors - but this has not happened.
The new 95 minute version looks great, and is certainly a big improvement . However, I think the most satisfying version is still the fan made Franco Cleef dvd.