Precisely. v2.00 is a complete, standalone game, and it'll still (naturally) be free in .pdf form.
I feel that Dan Proctor set a benchmark with Labyrinth Lord, in terms of completeness, utility and presentation. I've attempted to exceed it.
Contents:
Chapters I, II, and III -- like the OSRIC you already know, only revised and clarified with hugely better formatting, layout, and art. The "how to play" section includes clearer examples and a detailed example play session.
Chapter IV -- Dungeons, Towns and Wildernesses. A very complete set of rules and tables for dungeon design and stocking, plus somewhat less comprehensive sections for towns and wildernesses, plus complete random encounter tables for all three.
Chapter V -- Monsters. 285 monsters, all of which should be familiar to the target audience, in OSRIC format.
Chapter VI -- Treasure. Complete rules and tables for generating treasures, including 331 magic items, all of which should be familiar to the target audience, in OSRIC format.
Appendices -- Compiled tables and a character sheet.