I'm pretty sure the editors wrote down which reels of film they used, and the timecodes of the in and out points. So no, you wouldn't have to pick the same takes, it'd all be written down for you. The effects is the real problem, you're quite right they'd all have to be done in higher resolution- quite a costly undertaking.
I think we're more likely to get a couple of "Best Of" sets as opposed to the whole series - perhaps as a mechanism to test the market.