mrklaw said:
manabyte tweeted this article which I found interesting
http://secrethistoryofstarwars.com/savingstarwars.html
Seems like they could fairly easily redo an original restoration either from the original negative or even Lucas' private Technicolor print (!).
This.
Technicolor prints, unlike the 35mm prints that most theatres in the world received, can pretty much last forever without fading/turning pink. That's what happens to 35mm film over time.
In 1977 when Star Wars was released, Technicolor had closed down in North America. Printing films on 35mm was cheap, easy and quick. And besides, at the time, audiences and directors alike enjoyed the look grain gave to the film, which Technicolor lacked.
However, in Britain, Technicolor was still barely alive. A couple of technicolor prints of Star Wars were made for showings, and one was given to George Lucas. How many? No one knows for sure, but it is estimated to be no higher than 10. Technicolor closed down in Britain soonafter, so Empire nor Jedi were printed in the format.
Fast forward to 2010. Some collector lends a technicolor print of Star Wars to The Senator theatre on it's last night. The thing looked PRISTINE. Basically, this is what we want on Blu Ray, folks:
It looks fantastic. Unfortunately, if this collector steps up and allows someone to scan the film/release it in HD to the masses, George would send his stormtroopers to confiscate the film. Someone played a 35mm print of the original Empire Strikes Back on it's 30th anniversary and Lucasfilm actually confiscated the print.