This happened to me on both of my projects too.
I'd almost finished my PAL boxset of Star Trek: The Animated series (transferred from LD) when rumours of an official release started.
Fortunately as I was almost done I carried on and finished it.
Glad I did as it took about a year and a half before it was finally officially released (although it does look better than mine).
Then the same thing happened again with my other project 'This Island Earth' (thinking back, thismay have happened first).
The difference with this one is that when Universal finally re-released it, it was still only in NTSC format and hardly any better picture quality than the first (long deleted) release ages ago. So my version is still better in some ways and I'm still working on it.
Anyway, I managed to obtain the first two discs of MCoG. It will be interesting to see how they compare with the official versions.
Cheers!