I guess it's not really necessary to transfer the video from the LD if the Director's Cut is being released. The official DVD is likely to have superior video to the LD anyway. No news yet on the commentary, but I'd think it's safe to assume it'll be on the retail disc. And if not, it wouldn't be hard to sync up to the DVD's video.
But since it's only going be a single disc release, the 4 1/2 hour documentary should still definitely be transfered.