CSchmidlapp said:

I gather they are decoded to seperate wav's for each reel and I would just need to sync up to the Blu rays or best Picture source available, with a DTS - HD master audio encode at the end for the final preservation?

For Matrix 1, the best source is a torrent someone uploaded in RuTracker in March based off of an old HDTV capture. It therefore has unaltered color timing. It is open matte but could be cropped if necessary. I find when you do that though it comes out to be a bit zoomboxed (missing image on the top, bottom, left, and right).