It shits all over Blade, Guillermo ROCKS and is one of my favourites not only as a director but as a person.
He's talking about releasing a director's cut of Mimic (there were good bits but I didn't really like it when I saw it), using the raw materials that were shot and not filming new stuff this DVD will contain unseen footage and run about a half hour shorter but will be closer in tone to the script that he went in with before the studio started fucking with the product.
Seriously check out Blade II.