The Game of the Year Edition of Wasteland 2 is now known as the Director's Cut. This is the spruced up version being released on PS4 and Xbox One, and re-released for free on PC to existing owners of the game.
A brand new trailer showcases the many improvements made to the original game. The Director's Cut runs on the Unity 5 engine and the graphics have been updated. There are Perks & Quirks for more character depth, Precision Strikes to use in combat, redesigned encounters, expanded voice overs - with over 8000 new recorded lines of dialogue - a redesigned user interface, requisite controller support, and more things on top of all that, a press release said.
Wasteland 2 Director's Cut is coming out "late summer".