I made a thread announcing such a project (in SD) nearly ten years ago to the day: http://originaltrilogy.com/topic/Salems-Lot-1979-theatrical-version-preservation/id/8633 Weird timing! Obviously mine didn’t go very far, and I was hindered by a lack of sources as well as not particularly good equipment at the time. Needless to say I’d certainly love to see it done well!

ETA: I actually saw a 35mm screening of the theatrical edit a couple of years at a Halloween allnighter here in London. It was in great condition and was projected in 1.37:1.