I gave the answer to TheBoost in a PM, but I figured I would repost it here for the benefit of others who wanted to know the answer.

First, let me give you a link to an article by your favorite ;) LDS author, addressing critics to his recommendation that others see The Passion of the Christ.

http://www.nauvoo.com/library/card-r-rated-movie.html

The important quotes are as follows:

Orson Scott Card said:

"Only one President of the Church has made an official statement that mentioned R-rated movies. On three occasions, President Ezra Taft Benson, when speaking specifically to the youth of the Church, mentioned films so rated....Remember, President Benson is speaking to the young men of the Church when he says: 'Consider carefully the words of the prophet Alma to his errant son, Corianton, "Forsake your sins, and go no more after the lusts of your eyes." (Alma 39:9.)

'"The lusts of your eyes." In our day, what does that expression mean?

'Movies, television programs, and video recordings that are both suggestive and lewd.

'Magazines and books that are obscene and pornographic.

'We counsel you, young men, not to pollute your minds with such degrading matter, for the mind through which this filth passes is never the same afterwards. Don't see R-rated movies or vulgar videos or participate in any entertainment that is immoral, suggestive, or pornographic. Don't listen to music that is degrading' (Ensign, May 1986, p 43).'

"The mention of R-rated movies is clearly linked to a specific goal -- keeping one's mind free of entertainment that is 'immoral, suggestive, or pornographic.' The purpose of the Prophet's wise counsel is to keep us from entertainment that will excite sexual lust in an inappropriate context....But what does any of this have to do with a beautiful, faith-based film like The Passion of the Christ? How does President Benson's counsel even remotely apply to this work of Christian art? There is nothing in this film that appeals to the 'lusts of your eyes'; there is nothing 'lewd' or 'obscene' or 'immoral, suggestive, or pornographic.'

Quite the contrary. This film inspires you to feel gratitude to the Savior and love for those that he loved and who loved him. It inspires you with a dread of and revulsion for Satan and all his ways. It leaves you with a broken heart and a contrite spirit."

Orson Scott Card has other good quotes from Church leaders in there that are useful, but perhaps this will serve best:

Elder H. Burke Peterson said:

"Again I say, leave it alone. Turn it off, walk away from it, burn it, erase it, destroy it. I know it is hard counsel we give when we say movies that are R-rated, and many with PG-13 ratings, are produced by satanic influences. Our standards should not be dictated by the rating system. I repeat, because of what they really represent, these types of movies, music, tapes, etc. serve the purposes of the author of all darkness."

Source: http://www.lds.org/ensign/1993/11/touch-not-the-evil-gift-nor-the-unclean-thing

In other words, like you said, there is no binding commandment not to watch R-rated films, but there is a strong suggestion. There is an equally strong suggestion to avoid PG-13 films that may be inappropriate. In reality, members of my Church are generally ascribing something like a rabbinical oral law to what is God's actual law: that we use our own judgment to determine what we watch, that we don't go by the determinations of others' vague ratings, but just as very general guidance we should avoid R-rated films. To me this means we can watch R-rated movies, but should be EXTREMELY selective. This also means we can watch PG-13 movies, but should be more selective than many of us are.

Further reading for your enjoyment:

http://www.lds.org/ensign/1977/11/rated-a

https://www.lds.org/ensign/1981/04/i-have-a-question?lang=eng

In answer to your question, have I seen R-rated films: yes. Some have been rather inappropriate, but I was not so judicious or trying to live as righteously as I have since. But generally I've been selective. I haven't seen an R-rated film for at least two years. I do purchase edited movies and prefer to watch those, and generally I don't notice much difference. Perhaps some would roll their eyes while others might question their legality (a common criticism leveled towards CleanFlix and its clones). In response to the latter, if one purchases the original film, I don't see a problem (sort of like what we do with Star Wars fan edits here at this site). But in reply to the former, I just like a cleaner product, and if anyone disagrees, they are free to watch whatever they wish.

I should go finish watching my edited version of Band of Brothers :)

Hope this helps :)

[forgive the formatting, as I'm using a proxy server that won't let me format correctly]