James,
Welcome to the HTF.
You must be referring to the post on the other blu ray thread regarding the news from the Las Vegas Star Trek convention that CBS is discussion how to do Star Trek TNG on blu ray?
There was no mention of redoing the effects in CGI or any definitive plans or release dates for TNG on BD. Speaking of only preparing the film elements for HD, I have confidence that the people who did the clean-up work on The Original Series for HD will do an excellent job on TNG, if they use the same people. Assuming you may not have seen the TOS BD set yet. I'm a long time fan and purist when it comes to The Original Series. I was very happy with the work they've done for Star Trek TOS. To my eyes, they did not DNR it to death. I don't think it was ever brought up in any discussions. I remember some of the promotional videos of the restoration effort discussed how there was film grain retained and that the new CGI effects were so clean, they had to add noise to them to avoid a jarring appearance when going from film to new CGI effects!
We've discussed here how amazingly clear the BD's of TOS are! The molding seam lines for the rubber ears that Leonard Nimoy wore can be seen as well as the join line where the rubber ears are attached to Nimoy's real ear. Close-ups of Shatner reveal a lot of facial detail. Fine lines are seen. And the costumes reveal a lot of detail not seen before!
The only controversial thing the CBS team did to TOS that was iffy was recreate the original theme music in higher quality. They didn't quite get it right. Though a very good job of recreating it. The great thing about the set is they include the original mono tracks.
As far as FX elements, CBS did us all a huge favor and included the original optical effects on the BD sets, so we have a choice to watch either. The CBS team did quite a monumental effort to create the new effects over a period of 2 years and under time constraints to meet syndication broadcast dates! Not the best conditions. The quality of work was always high and done with an eye towards effects that matched the 1960's and not be overly too good. So it was hit or miss, early shots of the Enterprise looked too flat or plasticy, but later in the process, the effects were quite good! On Space Seed and Doomsday Machine, the CGI were top notch!
For the TNG, I think the effects work of the first 2 seasons were okay, but got progressively better as the series went on. It's a tough call for TNG if CGI effects should be done to replace the originals. It should not be considered an automatic thing. Restoring TV shows for BD is a new thing and each series should be reviewed thoroughly to see what makes sense, in my opinion. In the case of TNG, CBS will probably consider the cost of the effort and the potential returns.
The only bad thing about the new CGI effects, is that given they could only work with an film negative, the new CGI shots had to be faded in earlier then the original fades so they mask the old effects. This throws off the timing with music and sound effects. If you really know the show, you can see this. For TNG, given they have all the separate elements, they can probably avoid this problem.
The main thrust for the TOS restoration and conversion to HD was to celebrate it's 40th Anniversary and to preserve the series. The TNG was a great series, and continued the themes of Gene Roddenberry. I think it's worthy of a restoration of effort. And it looks like it's just a matter of time. But I doubt the digital scrubbing will yield results with lots of DNR. I'd be real happy with a result like TOS and if the effects are still the originals, it could be okay. New CGI effects would no doubt be the icing on the cake! If they retain the same philosophy on TNG and include the original effects and mono tracks, the new BD sets would be a home run. Though probably expensive! 