The 25th American Film Institute Life Achievement Award: A Salute to Martin Scorsese (Wed. (28), 10-11 p.m., CBS) Videotaped in Los Angeles by New Liberty Prods. and the American Film Institute. Executive producer, George Stevens Jr.; producer, Michael Stevens; associate producer, Michael B. Seligman; director, Louis J. Horvitz; script, Robert Shrum, Chris Henchy, Stevens Jr.; lighting director, Jeff Engel; editor, Michael Polito; production designer, Rene Lagler; music, Dennis McCarthy; film sequences edited by Joseph Wiedenmayer; sound, Doug Nelson, Ed Greene. Host: Sharon Stone. With: Martin Scorsese, Joe Pesci, Kris Kristofferson, Winona Ryder, James Woods, Kevin Pollak, Jodie Foster, Robert DeNiro, Don Rickles, Gregory Peck. Often acclaimed as America’s greatest living film director, Martin Scorsese was feted Feb. 21 by the American Film Institute, which presented him a “life achievement award,” placing him in the company of recent honorees Jack Nicholson, Clint Eastwood and Steven Spielberg. Ceremony was subsequently edited to fit into 60-minute timeslot. While CBS is to be commended for airing the show, public television or certain cable channels — AMC, Bravo, A&E, HBO and Showtime come to mind — might have been more appropriate and in a position to give the ceremony more time for those who do revere the director and his stars. Show is probably more slanted toward cineastes — those who stand a chance of recognizing Winona Ryder’s passing reference to Sandy Mackendrick — than to the general TV audience, who probably won’t; nor will they be tuning in in droves to see brief clips from early Scorsese efforts “Italian American” and “It’s Not Just You Murray.” Even severely edited, guests as a group bat no more than .500: Joe Pesci registers strongly with story of how he seems to break the same rib every time he works with the director; Kevin Pollak turns in a funny impression of Robert De Niro; James Woods explains how he had to “act” with De Niro by phone from Rhode Island for a scene in “Casino”; and Jodie Foster’s “Taxi Driver” anecdote prompts Scorsese to turn bright crimson. Sharon Stone hosts efficiently. Additional awards were given to show producer George Stevens Jr. and action-film director John McTiernan, with no indication as to why they were cited, or even who McTiernan is.