I refer to this version as 6.1, and I'm pretty sure that each and every clip in the vid has either been replaced or altered in some way since version 2.
The vid partly tells the story of how an ordinary Japanese businessman, later given the nickname "Rock", gets kidnapped for ransom by some shady characters, and ends up joining them when his employer literally tells him to go and die (when Revy, the girl, finds out he's worthless for ransom, she doesn't take the news very well). In his subsequent adventures he learns to overcome his fear of death, and to stand up for himself.
The bulk of the vid, however, concentrates on the action scenes that our group of anti-heroes find themselves in, and how they battle and defeat the mercenaries sent to kill them, with an emphasis on the combat skills of Revy "Two-Hands".
Caution: The real action doesn't start until the whistle blows, about 80 seconds into the vid.
Statistical notes:
Video length: 366 seconds
No. of timeline segments: 300+
No. of hours spent on vid: 50+
Seeing the way Revy kicks ass: Priceless
I need to give a shout-out to Mandi (Burning Leaves), who showed me so many of the short-comings of version 2, and how to fix them, and Autraya (name unknown)

If the vid won't play, you need to get the CCCP codec pack.