ESRB president Patricia Vance has said:

"Contrary to some reports, however, we do not believe these modifications fully restore the product to the version that originally received an AO rating, nor is this a matter of unlocking content."

http://arstechnica.com/news.ars/post/20071102-esrb-president-rockstar-complied-with-our-guidelines.html

This is completely contrary to the Registers position:

"The content revealed by the mod is the true 'visceral killing' scenes that attracted the ire of both US and European censors — transforming the AO-rated testicle-ripping murder romp into a mere M-rated eyeball-gouging homicide tryst."

I would suggest Austin Modine starts writing for the Sun rather than El Reg.