A few keen eyes on the NeoGAF forums found a recent video with Jill Valentine's voice actor, Patricia Ja Lee, in which Lee drops the bomb on a Resident Evil 5: Director's Cut. The video is below and should automatically begin right as Lee let's the news slip.
Capcom has not come out to announce any such "Director's Cut" so for now it's just a rumor. A rumor with some solid backing up by one of the main voice actors in the game, but a rumor none the less.
<object width="620" height="495"><param name="movie" value="http://www.youtube.com/v/tbsmcx1vCZw&start=423&hl=en&fs=1&color1=0x2b405b&c olor2=0x6b8ab6&hd=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/tbsmcx1vCZw&start=423&hl=en&fs=1&color1=0x2b405b&c olor2=0x6b8ab6&hd=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="620" height="495"></embed></object>
Capcom has not come out to announce any such "Director's Cut" so for now it's just a rumor. A rumor with some solid backing up by one of the main voice actors in the game, but a rumor none the less.