Yep, it was a tv schedule filler back when I was a wee bairn. 1952 or '53--but I was probably at least ten when I saw it.
I don't know why but I think I found "Red Cliff" to be less "miraculous" than I think you did. Perhaps because I'm like the Italians when it comes to subtitles, I don't like them because they make you work and detract from what native speakers see on the screen. And 4.8 hours is too long. I think a shorter version may have graced Chinese movie screens. Granted, it is one hell of a production worthy of accolades. It's my fault that I'm not fluent in Mandarin, apologies.