I'm not a very big fan of TNG, but I am a very big fan of what Paramount is doing with this series. Combined with their efforts on the original STAR TREK series, and some of their recent catalog work (GLADIATOR, WHITE CHRISTMAS, TEN COMMANDMENTS), I think we can expect even more great things in the future.
Obviously the current blurays of the original TREK feature films (1-6) are mediocre, and I certainly expect they will be re-done. In fact, the work being done on TOS and TNG suggests that Paramount may even spring to re-do the new digital shots in STAR TREK: THE MOTION PICTURE. I would look for new TREK blurays to coincide with the release of the next JJ Abrams film.
I'll be supporting this TNG release, if for no other reason than to send Paramount a message of appreciation.