I prefer the original Wrath of Khan cut to the director's cut. I don't like some of the interactions between Scotty's nephew and Kirk. I wish I had the theatrical version on DVD. And they don't need to update the effects for me!
I think that since they are updating the original series they should put Chekov in the same room with Khan in some scene, I don't know which. Always irritated me that Chekov isn't in Space Seed.