There is always the dilemma of "If we sell them the good stuff right now, what are we supposed to sell them later???" You can't deny that's definitely part of why we haven't seen the OOT restored and put out on blu-ray. "Nah, just slip in the deleted scenes that should've been on the dvd seven years ago. That's how we get the fans who weren't planning on buying the blu-ray because they hate the SE!!! BWAHAHAHAHA!!!!1" Pad it out with an extra commentary track and some BTS stuff, and voila, you've successfully milked the franchise for that much longer.
Hell, even George himself said this time around that "it would be too expensive" to properly restore and remaster the OOT. I think he knows the excuse that the originals "don't exist anymore" died the moment he put out the GOUT. Not that "it's expensive" is any kind of excuse either, but at least he's not kidding us anymore: it's about money.
In regards to Phantom Menace 3D, the realistic side of George had to have realized the returns were never gonna be great on that one. He even laughed at himself on The Colbert Report when Stephen asked him if he owned all the Star Wars movies on dvd and replied "I think so, I'm not sure about Episode I." All I have to say is that I saw the ROTS blu-ray on my uncle's huge projection screen and WOW, that movie is practically 3-dimensional already! So I think George was ready to take the hit for TPM 3D's inevitably shitty box office just so he could get to Clones and Sith. As we've all said before, the OT will do well because it's the OT.
As for when we'll finally see a restored OOT, who knows, but I think it will happen eventually. I'm sure they'll release the movies individually on blu-ray at some point, and that's yet another potential opportunity for them to throw in the original versions.
Speaking of which (and I've said this before), here's what I think is so good of a plan it would be idiotic for LFL not to do this:
We still haven't heard anything about a 3d blu-ray of TPM, but if LFL were smart, they would include the theatrical cut in the package. Do the same thing with AOTC in 2013 and ROTS in 2014. Then, when we get to ANH in 2015, they could go all out and throw in not only the original version, but the '97 version as well. Maybe spread out some cool extra features over all the leftover space on those several discs. Make it an elaborate collector's set just like we've seen in the past few years for stuff like Wizard of Oz, Ben-Hur, etc, and make this the only way you can get the original version on blu-ray. Repeat for Empire in 2016 and repeat again for Jedi in 2017. Yeah, it would mean we'd have to wait a while to get the entire OOT, but I think the fans would eat it up. If LFL were smart, they'd realize the business opportunity they've got here.
However they end up doing it, I think we'll see the OOT eventually. They won't be able to pull the blu-ray equivalent of the GOUT on us either. The old laserdisc masters + the fact that not as many people had widescreen tv's back in '06 meant easy money for LFL, but it's not like they've got 2K or even 480p transfers of the OOT just sitting around waiting to be dumped on blu-ray. They would actually have to put in some effort this time.