Currently, the Widescreen Fix is essentially superior, but it doesn't allow for windowed mode or borderless windowed mode, nor does it have an option for fullscreen FMVs. It's stupid having two separate wrappers with their own pros and cons.
Topic on Talk:Silent Hill 2: Director's Cut
Widescreen Fix does have windowed mode, and you can use a program like Borderless Gaming to make it borderless fullscreen. The windowed mode option is in d3d8.ini
as ForceWindowedMode=
.
Indeed, just hours after your comment, "activity" basically moved to WS fix.
It looks like Widescreen Fix now has support for the Widescreen FMV Pack. The page for shows the SH2 Widescreen Fix was updated some time ago and there's new options in the SilentHill2.Widescreen.ini
for the Widescreen FMV Pack.