I was watching No Escape (not one of Ray Liotta's greatest moments) after 1am the other night and found they edited a lot of the violence out. The worse thing about this sort of editing is that it ruins the director's work with half-assed cuts. Why is everyone staring down at something off camera? There's something there that the censors don't want to offend you with so they'd rather ruin the flow of the film. I know it's a pretty weak example, No Escape* isn't a great film, but who are they worried about offending at 1am? If your kids are watching television at that time of night, letting them see a dead body is the least of your worries.
I don't like to watch movies on tv anymore. Between the adverts and the censorship it's just not an enjoyable experience. I've been paying Netflix about $20 for over a year now (they were nice enough to send me an email saying thank you) and it's definitely a more enjoyable way to watch movies. I know that the range of titles that I've seen is a lot broader.
* It sort of has a special place in my heart, it was the first 15 rated film I managed to get into at the cinema.