Sadly it won't look anything like the Lawrence of Arabia Blu-ray or the upcoming My Fair Lady Blu-ray, but rather may look like something akin to The Greatest Story Every Told Blu-ray. Call me a traitor, but I'll be grateful for at least that much.
It is not really possible to make it look as horrible as TGSET, one would have to try very hard.
Even with a new scan made on the cheap and from 35mm elements they will get better results.
And even though it would be better than what we currently have we don't have to be grateful for them doing too little too late.
Exodus looks OK for being from a 35mm source but it could look so much better. With many lesser large format productions now getting a decent treatment (Circus World for example) one would hope for at least as much for Exodus but then it is an MGM property like The Alamo.