In the December 2009 Issue of Mojo, Roger Waters revealed that he had 'discovered a whole load of new footage of The Wall shows' and that he was busy 'editing it'. He explained that he assumed the cameramen decided to shoot more than they were asked to as they had the cameras and 'nobody [seemed] bothered'. It is presumed that this footage is 35mm film.
I found this on Wikipedia, and is what I'm going by that what he might have is a complete version of the show, shot on 35mm. I'm guessing that any major kind of restoration is taking a backseat to Roger's current projects (which also includes work on a concert film of his Dark Side Of The Moon tour). But if that's true, and the restoration goes off without a hitch, it'll make for an awesome Blu-Ray experience.