This is a remake of the original Spelunky. Besides the updated graphics (which grant the often used title Spelunky HD), this release includes new enemies, music, areas, terrain, items and 11 new playable characters. It also includes a local 4-players co-op mode and a deathmatch mode. The controls were redesigned specifically to be played with a gamepad.
Besides the new content mentioned there are some small differences between releases. The Steam and PSN releases feature a Daily Challenge Mode in which players compete all in the same daily generated cave. The PSN version also has movement freedom in co-op mode as players don't share the same screen.