I would have cut the racist statements during the meeting of the dons. It was unnecessary - the point could have been made to keep drugs away from Italians as well as the neighborhoods where the authorities would notice them without having to refer to people of color as "animals", etc.

Really, that's all I've got. One I am surprised has not been mentioned yet is to have Clemenza included in the non-flashback portions of II, but the Pentangeli narrative is so compelling, I personally would not have sacrificed it or altered it. I guess others agree with me.