Well, as much as I don't expect the blu-rays to be very good, I must say you or no one else here can possibly know that yet. They can be good just as well as bad, there is no proof either way. One thing's for sure though, there will be no OOT, so that will make the set shite no matter what the transfer will be like.

EDIT: And they definitely won't be upscaling the DVD masters, that would be ridiculous, the masters are already 1080p and were downscaled for the DVDs. What do you think the current HDTV versions came from?