Good news, people who like seeing naked breasts and violence in their games (but who live in censorship-happy countries)! Heavy Rain will be completely uncensored no matter which version of the game you're getting.
There's no denying that Quantic Dream's Heavy Rain is an ambitious title, and perhaps trying to lay claim to the title of being one of the first truly "adult" titles - not dealing with teenage power fantasies of destruction, but with things like "How do I take care of my son after a death in the family?" One of the more controversial scenes in the game is one where female player-character Madison Paige can strip to get information from a nightclub owner, and the nudity therein had many concerned that the scene would be cut from the North American release, as with Quantic's previous title Indigo Prophecy (aka Fahrenheit).
No worries on that end! In the same blog post in which Sony unveiled the game's box art, Associate Product Manager Cristian Cardona revealed that the game had received a "M" rating (no surprise there) for "Blood, Intense Violence, Nudity, Sexual Content, Strong Language and Use of Drugs."
Cardona continued that M rating aside, "for those of you who have asked, the content is exactly the same as what's being released in all our territories, so you'll get to enjoy it exactly as Quantic Dream intended."
So there you have it, folks. The violence won't be taken out of the Aussie version, the sex won't be taken out of the NA version, and the drug use won't be taken out of the Japanese version. I would have included the Euros in there but I don't know what Europeans are afraid of. Whoops.