Savage Worlds Deluxe is more than just a reprint, it's a whole revision of the core rules. Pinnacle has created a truly excellent edition here. First, the rules clarifications are excellent. It's very apparent that they have listened to the Savage Worlds players and built this version with their input and from years of playtesting. I found many of the details written in a clearer, easier to understand way.
Second, there is a lot of new content here. Pinnacle has added a lot of content and rule additions that have come from other supplements and support materials. You'll find, for example, rules for building racial templates. You'll also find a collection of almost-ready-to-play archetype characters and even several one-sheets.
I highly recommend this new release to seasoned (or even Legendary) Savage Worlds GMs and players as well as those just getting ready to try it out.