While yes, there is potential for theatrical reconstructions to look better, I'd still say no I am not happy at all. The difference in quality between the source materials for the OOT and the Blu-rays would cause a lot of problems I imagine. I am not a fan editor, just an audio guy, but I am willing to bet that the Blu-rays will bring as much frustration at least as they would perhaps bring some joy.

You can keep polishing a turd, and it's still just a turd. A Blu-ray/GOUT hybrid would be too jarring to both the eyes and ears. If I'm wrong, then please, one of you editor types, chime in and tell us.