zombie84 said:

The 2-disk original E.T. was a deluxe edition for cinephiles, so it was only made for a limited time as it was a "special" release, and thats the only reason the single-disk revised edition is in stores now. You can still find it if you really want it. When the film comes out on Blu Ray, I don't doubt it will be the same format as the Close Encounters, which had all the versions in equal quality.

For the 20th anniversary, yes. It would be good to see the same thing done for the Blu-ray version of E.T. too (maybe in 2012) — although I don't care for the "Special Edition" version at all. The CG went to these guys' heads...