I also wanted to point out that all of the special effects models, planets and starfields in TNG were all shot on film. The separate footage was then scanned onto video and composited together. Phasers, tractor beams, energy creatures or effects animation were the only things that originated as true video effects. So the question someone needs to be asking is this: Did Paramount and production save any of the original film elements? If they did than they can just rescan, recomposite and reedit everything and use their trusty computers to add the video effects back in rather than completely redoing or botching up the old.
What about the regular live action footage? Im assuming that was shot on video also. The DVDs look horrible on my HDTV.
More then likely they won't start with TNG until after they are done with TOS, so we're looking at at least a couple of years before any of this even begins. Another year to get season one on HD-DVD or Blueray. By then the format war will be over and a winner clearly defined.