Just saw this on TCM -- no commercials
Wow, this movie scared me when I was a kid in the '50s and amazingly, as I watched it a few nights ago (alone on a stormy night), it still creeped me out. My best friend's father used to dress up like Fu Manchu, shine a flashlight below his face and scare the bejesus out of us on warm summer nights.
Boris Karloff is really creepy and so is Myrna Loy. the other roles are pretty much forgettable, but the plot is a lot of fun. Be forewarned that in the uncut version, the racial slurs between "whites" and "Asians" flow freely. It is most definitely not a politically correct movie.
I've seen a censored version of this movie, and it was much more tame. This, I am positive, was pure and uncut, with all its sexual overtones and perversions intact, but not graphic.
For a very interesting article on this movie, see http://twtd.bluemountains.net.au/Rick/maskoffumanchu.htm
However, be aware that the view gives a detailed synopsis and is full of spoilers.
Enjoy, and try to catch it if you can.