There are 3 versions of this masterpiece, and I would say that the film works in every of the 3 versions.
The theatrical version from 1973 runs about 106 min. ,but loses some of the complexity by the omited scenes.
The Turner preview version was a rough cut which was prepared in 1988 and runs 122 min. (but should run 124, because 1 scene was still missing, another one from the theatrical version was also missing).
For the DVD release the acknowledged Peckinpah expert Paul Seydor, who is also an experienced Hollywood cutter, was allowed to cut a new version out of these 2, and became so the rare chance to fine cut this film like he always had described it in his book.
It’s basically the 1st version with adding most, not all, of the scenes the 2nd version contains, and it runs now about 115 min.
The problem is that everybody who knows both versions would have made different decisions by preparing a fine cut, and so has also different expectations which shape such a final version should have.
I think that the new version is clearly superior to the Turner version, but I would be happy if some of the cut out footage would return in it. There is only one scene which is now completely missing (for good reasons), but it contains the 2 scenes which were not in the Turner one.
Happily the DVD contains both versions.
Maybe in the near future everybody will be able to prepare their personal versions of their favourite movies.