If no company could be found that would be willing to digitize the film for the fan community, I believe a good digitizing rig could be built from an old projector and a digital camera with some special-purpose optics, hardware and software to step frame by frame.
I would not be surprised if the expertise to build it could be found on this board. We are not all high-school kids. I, myself am a software programmer who build replicas of Star Wars movie props in my spare time. I am sure there are engineers here that know optics, mechanics or electronics.