The three versions....
Shall We Dance? (1996) 136 minutes
Shall We Dance? (1996) Mirimax version 119 minutes
Shall We Dance (2004) 106 minutes.
The original unedited version had much more back story for Mai. More about her motivation to dance as a child and how selfish and bitter she was as an adult. The greatly cut down Mirimax version of the original removed most of Mia's flaws and made her a one dimensional character for the most part; which made the Paulina character of the remake rather uninteresting also. The 2004 version also lacks details on the lives of the other characters and removes most of the humor in Stanley Tucci's role as Link. Bobbie's character suffered as well.
The American version was not bad, but not good enough to watch for more than the wonderful two and a quarter hours of the original. If the American producers wanted to copy the original, they should have used the unedited version instead.
Ranb