I've only seen the TV edit of this film, and I think that the alternate versions section didn't list all of the scenes that were removed for it after reading the other reviews, but I hope that they don't detract from it.
Reading the opening credits the second time I saw it, I noticed it was based on a book, which is quite understandable. This is not your average Hollywood movie. There's basically no action, and all the plot is very cerebral in nature. The author of the book and the screenplay did a very good job portraying the reactions of various people, as well as of the computer itself.
Below are possible spoilers.
I said there are spoilers below, so don't blame me.
The one thing that has bugged me ever since I saw this was the concern of whether submitting to the computer's will is all that bad of a thing. The last chapter of Asimov's "I, Robot" presents a similar issue, and the way it's written suggests that we'd better let the computers guide us, because they're programmed to have at heart the good of all mankind. The difference, however, is that the Machines that Asimov had controlling the World's production were only willing to force those against them away from positions of power, and such resembled Earth politicians. Colossus and Guardian act more like aliens in their imprisonment and murder of innocent civilians in order to make sure that they can control the world for the betterment of mankind in the long run. Even Klaatu of "The Day the Earth Stood Still" was unwilling to sacrifice human life or machinery in order to get across his point that there were more powerful forces at work on Earth.
The supercomputers of this movie are far more akin to those whose mantra is "to save X, we must destroy X," just not as extreme. They are what people were afraid of happening to machines in Asimov's world if his famous 3 laws were not imprinted so deeply within the robot's positronic brain. Their programming is to make guide humans towards a peaceful existence, but their design allowed them to think far beyond the parameters they were given, and allow them to threaten mankind into doing something they wouldn't do normally in order to "preserve the peace." The extreme tactics of the machines makes one so opposed to them that sympathizing with them in anyway is impossible. The second time I watched this, I seriously had doubts to why Forbin was acting the way he did at the end. Clearly he can see that mankind will be better off under this computer's guidance, even if it does mean a bit of oppression along they way, right? Well, clearly Forbin is much too human than we are initially led to believe, and like most humans is unwilling to have his life and the lives of his fellow men dictated by a machine of their design. Never mind that the original programming was partly for that exact purpose.
My problems with this include the fact I find it rather preposterous that Colossus would cease with its surveillance of Forbin while he's in bed with the mistress, given that Colossus is watching him in the bathroom and such. Also, the fact that Colossus couldn't have just been shut down (by either side) suggests that it is some sort of perpetual motion machine. Even if it had a power plant inside of it, humans have to supply it with fuel at some point. The best I can come up with is that it's given fuel for the year in some sort of non-reversible passageway, and that one of the things it blackmails humans into doing is making sure its power supply is uninterrupted. Also, it seems rather likely that all the missiles could have been capped and evacuated, forcing Colossus' weapons to be unable to be launched. That they'd have to be disarmed in the way shown is rather foolish.
Overall, I give this 8/10