Recut of the 2001 original with 20 minutes of additional footage, redesigned sound and visual effects, a slightly reordered soundtrack of songs, and a commentary track by director Richard Kelly and Kevin Smith.
Nugget: elucidates some of the ambiguities of the original version without spoiling it, as I had feared. A good complement for fans of the film, but should not be treated as the superior version.
Note: this review refers to the Region 2 single disc edition.
Read the full review on FilmExposed.
[Update: Friday 17 June 2011: looks like FilmExposed is no more, so that link is broken.]