We heard a rumor that CBS was undertaking the monumental task of completely remastering all of Star Trek: The Next Generation in glorious HD, and it's just been confirmed: Season 1 is going to be available as early as next year.
Rather than just doing a remastering pass on the TNG episodes, CBS is going back to the 25,000 reels of original film and cutting the episodes back together in HD with 7.1 channel audio. They're also redoing every single special effect. Every. Single. One. And to make sure they do it right, special effects wizards Denise and Michael Okuda (the guy responsible for the iconic computer layout you see all over the Enterprise-D) are consulting on the project.
Before the first season of TNG comes out, we'll be treated to a four-episode sampler disc, including "Encounter at Farpoint," "Sins of the Father," and "Inner Light." Called Star Trek: The Next Generation — The Next Level, the disc should be available on January 31 of next year.
Between you and me, I've never really bought into the whole Blu-ray thing, but TNG with completely redone special effects in high enough resolution to count the precious few hairs on Captain Picard's head will definitely be enough to push me over the edge. Look for Season 1 to drop sometime in mid-2012, followed by all the rest of 'em in order. We don't have pricing info yet, but be honest with yourself: is there some amount that they could charge that you wouldn't pay?