Does anyone know exactly what turning on the "classic mode" in the Veteran Edition's gameplay options do?

All I know is that it brings back some (all?) of the times you can get yourself killed by insulting or killing the wrong person and the whole Chalice dead end. Both of these are things I really enjoyed about the original game (although I prefer how I remember the demo handling the Chalice) and I felt they were integral to how the game tries to always keep you on edge about whether you are doing the "right" thing or not and the whole "trust no one" theme. So I'd be happy to turn those back on, but I want to know whether it also brings back something else I'd rather not have back or if it removes some of the new stuff.