Just noticed this thread, hopefully not too late to provide info.
I have the Austrian version of HR3 with both cuts (comes in black case which is nice touch, best artwork on sleeve of all the releases I've seen). Don't remember any burnt in subtitles on that, though its been a while since I watched it. I will say though, and this will apply to any uncut version (to my knowledge), that the uncut sections are upscaled from the DVD version, which itself might be from a VHS version. certainly look well below the standard of an average DVD pq. Can be quite jarring in the club scenes, as theres a very noticeable dip for a few scenes periodically, but I put up with it as I like some of the uncut scenes later in the film. I find the release pretty decent overall though, knowing its never going to get a massive makeover.