OK.
We must be careful with our words when talking about DVD releases.
Take all this with an "AFAIK" (if anyone has more information, please let me know):
There is no special edition for Conan.
Just the fantastic Colector's Edition.
see here for review:
http://www.dvdfile.com/software/review/dvd-video_2/conanthebarbarian.htm
The review says the sound on the movie is mono, so I don't see why durath is slamming it for not having Dolby.
Also - there is no director's cut - it's listed on the back with "Extended Version with Bonus Footage", but I'm not sure what's been added.
There are deleted scenes, but the real prize off this wonderful DVD is the Documentary and the Commentary.
Myself, I think Conan the Destroyer has gotten a serious bad rap over the years, and people conveniently remember it worse than as it really was - watch it again... there's some really cool ideas and fights in there - this isn't Shakespeare, guys.
If you can get both DVD's at that price, grab it QUICK!
I purchased Conan 1 only a year ago, and $19 was as good as I could find.