A little backstory about the film's history from the Welsh Film Archive:
No one knows the exact reason the film was squelched, though it appears to be in part due to anti-semitism (the film's producers were predominantly Jewish, and feared to be pro-German).Maurice Elvey's silent biopic maps out the life of British Prime Minister Lloyd George from childhood to the end of the Great War. In 1918, the film disappeared, as £20,000 was paid to The Ideal Film Company to stop its release. The film then mysteriously disappeared until 1994, when it was found by the Wales Film and Television Archive. The film was painstakingly restored and premiered in Cardiff in 1996 and has since been screened around the world.
The film is very impressive, Kevin Brownlow felt that it would have been the British Birth of a Nation, had it been released in 1918. It's not hard to see why, the film has an epic scope, and is so unabashedly pro-George that it borders on propaganda. Hell it is propaganda. It's the spiritual predecessor of Gance's Napoleon and Ford's Young Mr. Lincoln The film follows George's life from birth right up to last months of World War I, documenting each period of his life in a series of newsreel-esque vignettes. It's a really fascinating means of telling the story, as it gives the film a documentary quality, unhindered by melodrama, love interest, or complication.
That said there are some wonderful artistic flourishes, including a sequence flashing back to the story of David and Goliath (ala the historical cross-cutting of Intolerance), reimagining George as David, and The Kaiser as Goliath. There's another sequence that worked really well in which George is shown fighting for bill on health benefits for workers, and the scene cuts to a wife and her sick husband, backed a wall of china, followed by cut to the same location, but this time the wife is sans husband, and china. Her husband is dead, and she is poor because her husband couldn't take time off work. It's all so brief, and subtle, but it tells the story far better than a longer sequence would have. The film is filled with quick effective sequences like that, that serve to enhance the narrative of George's life as well as keeping the film moving forward.
Perhaps the most impressive sequences in the film are the several crowd scenes. There's a scene involving a police riot that features an astonishing 10,000 extras, that looks like documentary footage. Another great sequence involves a group of riotous woman's suffragettes fighting with police. The tension of these sequences is palpable, and gives one the sense of watching history unfold. The whole film in fact feels like history unfolding. The sensation I would compare it to would be my feelings whilst watching the assassination of Abraham Lincoln in The Birth of a Nation which had be almost in tears, as if I were watching the real thing.
This film is very close to being a masterpiece, if it's not one already. I would argue the film is absolutely essential for silent-film buffs, though I'm not sure a film can be essential if no one's seen it.
The 2-Disc DVD is flawless, with a wonderfully restored print, and nice 16 page booklet, and interviews with Kevin Brownlow, and composer Neil Brand, as well as an intro by actor Philip Madoc. Plus it's R0, so there's no excuse for not picking this one up. This is the DVD of the year for me, at least until The Crowd comes out
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And that's quite an achievement as my interest in Lloyd George was about zero before I read your post! 
I know that Elvey made quite a few interesting silents like Hindle Wakes (1927) and High Treason (1928). The last one sounds incredibly interesting as it's a SciFi picture showing a Channel Tunnel!!! 
It's been shown in London recently. Hopefully, the BFI will release it at some point.