There's a good thread, which discusses the film
here for those who are unfamiliar with its 'charms'!
As for Shameless releasing it, I'd definitely be interested, if only to see how it fares with the BBFC!
I doubt whether the hardcore version would get through without any cuts to some of the sex scenes, but I'd also be unsure whether any of the sexualised violence would also be cut.
Overall I found it very silly, and certainly a bizarre film to watch. It's gained notoriety over the years, mainly for being odd, explicit, and a bit of a curio, but even though it's poorly made and a bit tiresome I'd still like to see it get a UK release one day.