Just thought you guys might like to know, my dad just sat beside John Lowry on a 20 minute flight. He started talking to him about restorations, and Mr. Lowry told him that the restoration for The Abyss is already done and in the can. He also had a few other tidbits of info about other projects:

Apparently they're working on the Titanic restoration/3d-izing at the moment and they say it looks phenomenal. James Cameron has been heavily involved in this, even go so far as to tell them what sort of depth of field to use on different parts of the image during some scenes. Apparently it looks so good that it's hard to tell it wasn't shot in 3d in the first place.

He also mentioned that they're working with the Star Wars movies again, and have gone back to the originals for the groundwork. This is probably for the 3d versions (I would assume the masters for use with the Blu-Ray set are finished already). He implied that this restoration means they will have restored versions of the theatrical Star Wars movies, but that they have had no indication from Lucas that the movies are in the pipeline for release in their theatrical versions.

Some more rumors suggest that the blu-ray will be from the 2004 1080p master, due to time and cost issues... I doubt it, it's not even a 2k master for crissake