Yes, gorehounds, it's time for a Director's Cut of the original Hostel. According to DVDActive.com, It'll hit the shelves on the same day as the sequel, and it will come packing Roth's original 'darker' ending. All of the (numerous) extras from the first Hostel DVD look to be included, in addition to a second platter filled with a bunch of all-new stuff. So yeah, it's a double-dip, but it sounds like there's enough "new stuff" to warrant a peek. As far as H2 is concerned, that DVD will also come in Director's Cut style, and the extras there will include three audio commentaries, a half-dozen featurettes, a bunch of deleted scenes, and all sorts of random nastiness.
And yes: Just in time for Halloween. Personally I don't mind saying that Hostel 2 has earned a spot in my horror collection. I think they're both damn solid horror movies -- and in 10-15 years, a lot more people will agree with me.