Just did a little searching and it's not the directors cut. I thought it was because of the unseen footage. It was shown close to the movies release to add to the hype. I dont remember it cause a was only 7 at the time and only got to see the movie because my dad and the manager are friends.

The directors cut has't been officially announced. It was leaked from either Italy or more likely Foxes british counter part Sky
(both of which are owned by rupert murdoch). Apparantley Parampont where getting mail saying there has to be a proper DVD. The one which is out was rushed. To my knowledge they have re-done the sound fixed the picture to anamorphic. Am not sure if the digital effects have been re done but there only around 8 years old so....

Cameron has re-edited it taking some stuff out then replacing it with new then adding more. A bit like those directors cut lord of the rings.

Summer is where it is supposed to be however they may wait untill 2007. One reason is its the movies 10th annivercary but the other is that the next generation DVDs are comming. Called blu-ray same format to be used on the sony PS3. The hold 20 times the data and can allow for high definition movies.

With a bit of luck we will get the DVD that should of been there with the making of etc. I for one want to see the making and see them build the replica and researching the ship. Cameron also had a look at Olympic and consolted the original plans for Britannic.

Oh well all we can do is hope