KEG: As keypusher noted almost a decade ago on this site, Schlechter dominated the overmatched Lee in this game.Lee was outplayed from beginning to end, and was probably strategically lost as early as his poor 12...Nfd5 (12. b6 was best).
Schlechter's plan is apparent from his 14. QxN. As the Tournament Book points out, 14. bxN looks best at first sight, but Schlechter understood the value in allowing his Queen to scoot along the third rank, ultimately to g3. 14. bxN would have impeded this plan.
Lee only made matters worse for himself with 16...Bd7 (16...Rd8 was better). Schlechter's 19. b4 (19. Nc4) and 21. Bd3 (21. Bh2 or 21. Nf3 were better) were not best, but Lee's effort at counterplay with 21...g5 was misguided (21...f6 was best). When Lee finally did get around to playing f6 (on his 23rd move) it was a mistake (23...gxf4 as perhaps the only chance).
What followed was a demolition of Lee's king-side by Schlechter.
Schlechter could have won more brilliantly and faster with 30. RxB, but his 30. e5 was plenty good and wiped Lee out within a few moves.
One of Schlechter's best performances.
As keypusher has also already pointed out, Schlechter's 38. Qf1! was gorgeous and forced immediate resignation.