I'm not too big a fan of Naruto, but watching any anime get butchered is an insult to American audiences. But I will say this:
The Cartoon Network COULD BE WORSE
If you truly wanbt to see anime butchered at its fullest, watch fox kids WB or anything released by nelvana . One of my favorite series, Vision of Escaflowne, perhaps one of the greatest series around, was horribly edited. Luckely I already had the whole series on DVD unedited, but all those who were unfamiliar with the series were introduced to a travesty.
And, of course, probably the most famous and controversial butchering of all time: Cardcaptor Sakura (another fav of mine). They took the anime series, changed all the names of the characters to "Americanized" names, changed the locations so it didnt even take place in Japan anymore, but some anonymous place in Amierica, CHANGED THE MAIN CHARACTER for the sole purpose of CHANGING THE TARGET AUDIENCE...changed the relationships between all the characters (i.e. the love tiangles were all eliminated). They took a lighthearted romance comedy/advanture anime and turned it into a cheap "gotta catch'em all" pokemon ripoff. At LEAST they had the decency to change the title so it was no longer associated with the original, calling it "cardcaptors" instead. Anime fans boycotted Nelvana unsuccessfully after that.
Cartoon network has never gone that far, so I wouldnt worry so much about Naruto. They will, of course, edit out blood, language, and (which naruto doesnt have) nudity. Its not my fav, but its not a bad series....1000% better then DBZ, which in my opinion gave all anime a bad name, even in its unedited format.
-VGsatomi