I think I can see what would happen if a "restored" version of Star Wars supposedly identical to the final release version were to come out on blu ray - most of you would still boycott it because of something or other it got wrong in any of its 120 odd minutes of run time. There *has* to come a point where close enough is good enough. Its just never going to happen that anyone would ever restore a 35 year old film in a way that would please every die hard restorationalist in all instances.
The fact is - nobody can really remember every detail of a film they saw all those decades ago, or even one that they saw yesterday. There will have to come a point where you'll have to just accept on good faith, that a restoration is as close as the restoration team and the studio could possibly make it, and be happy with what you get. Or else you truly have lost sight of the wood for the trees.
But like I said, nobody is going to be satisfied with anything they hypothetically release and I think this is one of the factors that makes Lucas highly reluctant to even entertain the possibility or spend the money on trying to satisfy a small subset of fans within a larger community of people who want to see a reasonably faithful OOT release. I can really see where he's coming from there. I don't condone his attitude, but I understand it.
The cruel fact is, most SW fans don't care what version it is - most of those that do care share my attitude that as long as the editorial matches and as long as the color appears natural and faithful it will be a worthy release. I think it might even be possible that the fundamentalist restorationalists themselves are holding back the possibility of these versions being released. Lucas knows these kinds of opinions exist - I'd also feel a bit ill at the prospect of bending over backwards to try please these fans who are actually still going to throw rocks at him no matter what he does. Of course he brought this stalemate situation upon himself but that doesn't change the fact that the kind of nitpicking we see on this forum is a factor in strengthening Lucas's resolve to not bow to fan pressure.
He should just have released warts-and-all but reasonable quality barebones DVD's and blu rays of the originals in a close-enough-to-original state years ago and then there probably wouldn't be this stalemate we find ourselves in now. I might even have opened the doorway to an extremely faithful restoration somewhere down the road. But its too late now. He knows that the target audience for a restoration version is the most likely to complain the loudest. Its really a catch 22 now.