Well, Ritualistic popped the screenshot up, so I guess I can say a little bit about it.
Yes, widescreen works in the upcoming SiN update. Game mods (including Wages of SiN) also work in the upcoming SiN update. (The Steamification initially broke mods...sorry.) However, don't expect to be able to pop your Wages CD in the drive and just get it to work. Wages has been tricky, and so far I've only messed around with the single player aspect of Wages.
I've also been working on an updated SDK for release alongside the update, but unfortunately the first release of the new SDK will not compile in Visual C++ Express Edition. It will require Visual C++ .NET 2003 or the free Visual C++ Toolkit. I don't know if it will compile using the new release of Turbo C++ or not.
Work started on the Steam version of Sin long before the release of Visual Studio 2005, and the codebase was written through the mid-90's, so there is a lot of code that needs to be touched to work correctly with VC++EE. That is one of my goals, however.
We made a few promises back when we re-released Sin. One of which was widescreen support, which this patch will deliver. Another was re-adding mod support, which this patch will deliver. There's one other promise that I'm still working on, and one of these items was a prerequisite...