For this Ultimate Director's Cut, Hill has made only minor changes that don't really make a huge difference with one exception. This new version opens with a brief prologue, narrated by Hill himself, which tells of a Greek army caught a thousand miles away from the sea that had to battle their way home. It doesn't add much but it gets out of the way immediately and segues into the familiar version.
More controversial is the use of a comic book metaphor to bridge scene transitions. The picture freezes and turns into an illustrated panel that then moves across the page to the drawing of the start of the next scene. It's a pretty cool effect that reinforces Hill's vision of the movie being a live-action comic book.
But one place where it stumbles - and stumbles badly - is in the reveal of the Baseball Furies. In the old version, we see shots of the Warriors reacting to something off-camera before we see what's disturbing them. Now, a couple of transition panels tell us we're changing locations and then we're shown the Furies. The conversion of the shots to static panels doesn't ruin the movie, but it does squander one of the most memorable moments.
Other than these changes, The Warriors: Ultimate Director's Cut is fundamentally the same trippy movie that its fans have known and dug for years. (This isn't a case of Hill going back and having Cyrus shoot first.)