Wouldn't the IP's be all we need to worry about? The solution would be even simpler than what zombie suggests. All they'd need to do is take the IP's, make sure they're usable (this is a where an actual restoration would be involved) and then scan them to make a new OOT transfer. The real trick would be finding said IP's. Lucasfilm's official response to us back in '06 was "existing prints are in bad condition." That could literally mean anything, but if well-preserved IP's are out there somewhere then the OOT could hypothetically be remastered.