Fingers crossed for a 16:9 ratio 1080p remaster sometime in the near future!
I don't think it's going to happen in any market other than Japan.
about how TNG was shot on film.
FYI For Japan only
TOS-R was cropped for 16:9 and the new visual effects were completed in 16:9. All other foreign markets and USA thus far has gotten the 4:3 release except when the XBOX Live Marketplace had TOS-R episodes only the visual effects were shown in 16:9 and The live-action shots were 4:3. In Japan the regular live action shots were cropped to match the rendered Visual FX for a 16:9 presentation.
TOS-R Goes Widescreen In Japan July 31, 2007
You should check out the massive 14-page thread:
Star Trek TNG Remastered?
for the detailed discussion on the picture quality, visual effects recreation/conforming, packaging, and just about anything else that would be involved with a remastering effort of the TNG series to HD.