Orson Welles' THE DEEP. Shot in the late 1960s and based on the same terrific Charles Williams novel that became Philip Noyce's DEAD CALM (with Nicole Kidman and Sam Neill). Peter Bogdonavich claims that Welles shot almost all of it except for a few special effects, and I hear tell those will be cleaned up and CGIed for a theatrical release in the next few years.
Bob Rafelson's HEAD, or The Monkees Feature Written by Jack Nicholson. All video and DVD versions have run in the 85 minute range, but the film previewed at an incredible 110 minutes!
Any footage from the aborted Diabolik project starring Jean Sorel and Elsa Martinelli, as well as the Catherine Deneuve dailies for the completed (but Denueve-less) DANGER DIABOLIK.
All of the different versions John Cassavetes edited of HUSBANDS, including the "light comedy" print he screened for Columbia executives. And while I'm on the subject of Cassavetes, I'd also like to see the original cut of A CHILD IS WAITING before Stanley Kramer messed with it, and BIG TROUBLE before Columbia messed with it, and LOVE STREAMS before Cannon messed with it.
Bill Gunn's STOP. From the director of the amazing GANJA AND HESS. Shelved by Warner Bros. in 1970.
Harvey Keitel as Capt. Willard, and as Ziegler in EYES WIDE SHUT. I'd also like to see the Jennifer Jason Leigh footage from the latter.
The original versions of CRIMES AND MISDEMEANORS and SEPTEMBER, and any of the Michael Keaton dailies from THE PURPLE ROSE OF CAIRO.
Since Wong Kar-Wai will be releasing ASHES OF TIME REDUX later this year, maybe he'll find the urge to dust off the cans holding the 45 minutes or so he filmed of his DAYS OF BEING WILD sequel starring Tony Leung Chiu-Wai and Maggie Cheung. And while he's at it, maybe also some decent scenes from 2046.
Terrence Malick's workprint for THE THIN RED LINE, with the pared-down roles of Adrien Brody, John C. Reilly and George Clooney restored, along with actors who were completely MIA for the theatrical version (Mickey Rourke, Bill Pullman, Lukas Haas), and Billy Bob Thornton's narration.
SMOKEY IS THE BANDIT. Yup, that's right. The first cut of SMOKEY AND THE BANDIT 3, where Gleason played Buford and The Bandit. Test-screened in '83 to an understandably nonplussed audience.
Harrison Ford's cameo as the principal in E.T.: THE EXTRA TERRESTRIAL.
Gary Oldman's cameo as the priest in DEAD PRESIDENTS.