I just beat Directors Cut. Great game, I couldn't stop playing since I got it.. I just wanted to unravel the mystery. The characters were downright amazing, among the best I've experienced in a game. You can see that this was being done by a team with a Triple A vision, but a budget that didn't let them flesh it out on the technical and gameplay side.
The gameplay isn't half bad, as the enemies pose no significant challenge in this game. I don't know if those annoying wall enemies were changed, but only they took a long time to kill if you had no Shotgun/Magnum/2 handed Melee weapon. 5 shotgun shots, 3 magnum shots or 2 whacks with a sword to be exact. Its easy enough to get the infinite sub machine gun and outside of those few enemies you'll need no other weapon.
The framerate is ropey at the very first room and at a crowded street, but it didn't bother me for the most part. All stages involving gunplay are mostly smooth sailing.
The only new scenes are the ones with the old man telling the story so I've read... that sounds bare bones. But I think some of the things and happenings in the game make sense thanks to it, or can be explained better at least. The post-game title screen is pretty neat as well.