I have just finished watching the "versión extendida" of Los Borgia, the 2dvd-set lasting 92+93 minutes respectively. Was it too long? Not really. The story spans about 14 years (1492-1506), has three or four main characters (pope Alejandro VI with his children César, Lucrecia and Juan), each with their own plots and subplots. While I haven't seen any of the previous, shorter versions, I suspect they were too condensed to give much room to characterization and plot development. In fact, had Los Borgia been turned into a television series twice as long, it might have been better still.
What did I like about this film? First, the way it was photographed, the sets and the dresses, that really looked like clothes made for wearing. Second, the acting, which was modest and unobtrusive. The characters -- usually taken to be the personification of all that is evil in the Roman Catholic Church -- were depicted as fully human, at times even likable, without taking away anything of the gruesomeness of their deeds. And that is the third thing I like about this film: the way the makers have turned a black page in church history into a lively period piece, without resorting to cheap pornography, as could easily have been the case.
Some minor quibbles: the DVD does not have any extras, which always is a shame, and subtitles (Spanish or English) are sadly lacking -- a drawback to those who, like me, aren't Spanish and might have difficulties understanding everything that is said. Also, for those that are not well up in history around 1500, it might have helped if the makers had inserted dates every now and then. If I remember correctly only once a specific date (1503) is mentioned by one of the characters.
In conclusion, I really liked this film. It gives a fresh and lively look on a controversial episode in the history of Europe.