Harvey Weinstein will indeed release a PG-13 cut of The King's Speech...

...for better or worse. Here's the story from the A.V. Club:

Despite director Tom Hooper’s strenuous objections, The Weinstein Company is moving forward with a proposed PG-13 edit of The King’s Speech, having just received an okay from the MPAA to release it to theaters as soon as it pulls the original, R-rated version. (Normally a film has to be absent from theaters for 90 days before a re-release is granted; in this case, The King’s Speech was granted a waiver.) As we reported earlier, the Weinsteins’ decision to censor the film was based primarily on helping the Best Picture frontrunner broaden its box-office take by attracting more families—something that Harvey Weinstein apparently felt was more crucial at this point than continuing to make a stand on principle, like he did at the time of the film’s first date with the MPAA. Back then, the only thing that came between The King’s Speech and a PG-13 was a key scene where Colin Firth’s character lets loose with a string of cathartic profanities—and while there’s nothing official yet on what “unique way” (in Weinstein’s words) they’ve found to work around it, we’re assuming that scene is now pretty much gone, perhaps momentarily replaced by an insert of a couple of friendly chaps playing snooker.

-Joey's Two Cents: It is what it is, and yes, I've avoided the porn set story in regard to The King's Speech on purpose...mainly because it's a waste of time. Thoughts?