Got my copy today! Definately worth the fifteen bucks! Has both cuts, and non of the minor "frame cuts" that had to be done to create the new extended woodshed scene are missing from the theatrical cut. Like chenlung said, there's a shot in the director's cut when one "pissant soldier" gets a circular saw to the throat, and a few frames had to be cut in order to insert the new bloody close-up shot. However, the theatrical cut still has the original frames. In other words, the two cuts were very carefully seemlessly branched.
While I originally thought this director's cut would be nothing but more "action footage" (such as the extended toolshed scene), there's actually some new *gasp* character development! The biggest of all being an explanation as to what happened to Matrix's wife and how his time in the special forces affected his relationship with his daughter. Sure, in a typical "dumb action movie" like this, you could care less, but I think it's still a welcome addition.
As for the A/V. The transfer is a bit dark in some scenes, but looks good nonetheless. The extras are pretty good too, especially the interview footage with Vernon Wells and Rae Dawn Chong (who actually looks better now than she did in the movie

). The only extra missing is the trailer... which seems to be a common thing nowadays, unfortunately.
Anyway, if you don't have this on DVD at all yet, this is definately the one to pick up. And if you do already have it... well, I say get it again. The $15 bucks is worth it for the extras and new footage (especially the extended toolshed scene!). Hell, you can probably find it online cheaper than that!