Just got back from a visit; they really do have a boatload of guns. The rifle racks and handgun displays now cover about 75% of the store's wallspace. Ammo prices seem fair, gun selection is the best I've ever seen by far. Some guns are priced really well, others are not. They have a good couple of knife racks, surefire flashlight rack (hands on), boots/shoes, novelty gun clothing, cleaning supplies, and lots of ammo. I was really surprised to find that they have about ten racks dedicated to BLACKHAWK and 5.11 clothing and bags. Prices on that are about what you'd expect (I never buy any tactical clothing unless its on clearance). The hunting clothing is still there but the selection is really reduced, and there is very little blaze orange.
I spent some time listening to one of the gun counter guys (by chance he was talking to an OpenCarry forum member, so hi to him). Apparently even they didn't know that the place was being changed until after the renovation started. The owner decided to go to the Gun World format because of the heavy competition from Cabelas, and the fact that there is a number of Gander Mountains in the area. It is still very much a Gander Mountain operation: same logo on the building, all the displays are still Gander, employee uniforms. It seems as though it is set up like a firearms outlet store from GM.
Overall I was impressed, but there's certainly a lot of kinks they're still working out with the computers and whatnot.