Hey all, thanks for the replies.
I appreciate the candour shown by everyone, and I take the point that it is unlikely that SG-1 will come out on Blu-Ray, however well deserved such a release would be.
It does sounds as if they would be in a similar situation to TNG and the massive remastering project that was required there. As I understand it, the only thing that got the TNG Blu-Ray project off the ground was that CBS wanted a classic flagship series to use as a platform from which they could launch further Blu-Ray releases of other non-Trek series.
If MGM take a similar approach to their marketing then we could be in luck, but my I am not expecting this to occur.