the theatrical cut of Star Trek TMP will be released in Blu-Ray next Year.
source: www.thedigitalbits.com
Also, watch for a Blu-ray Disc box set of all of The Original Series-based Star Trek feature films, including Star Trek: The Motion Picture (the theatrical cut, NOT the director's cut, as all the extended cut CG effects were produced in 480p and would have to be redone for HD release), Star Trek II: The Wrath of Khan, Star Trek III: The Search for Spock, Star Trek IV: The Voyage Home, Star Trek V: The Final Frontier and Star Trek VI: The Undiscovered Country. [Editor's Note: We mistakenly mentioned Generations instead of Trek VI in the original post. The box will be films I-VI. No Generations. The TNG films will come later. Just FYI.] This is obviously timed to promote J.J. Abrams' forthcoming Star Trek reboot, due next May