Regarding two scenes, the HK DVD by Universe is shorter than the German Free TV broadcast from 12/23/2003.
German Free TV: 98:20 PAL excluding closing credits
HK DVD: 103:28 NTSC excluding closing credits
Cut HK DVD: ~12 seconds in 3 scenes
Shortly before Sai Yuk fights Siu Wan and jumps on the scaffold, shouts "I'll try!", whereupon Tiger Lui replies "Siu Wan, take him on."
After the injured Siu Wan has sent Sai Yuk and Ting Ting out the tent, one can longer see them standing outside the tent in the rain.
There is another quick cut on the 'remastered' Universe DVD as the final fight begins - about half a second is missing when Fong grabs the rope (after the torch is thrown to it).
(Thx to Scott Napier for this Information)