Let's be honest here.
What exactly is this "Ultimate box set" going to include that's worth the expense? I mean, they're not going to add still more footage, the movies are already incredibly long. It's going to include everything it had before, and maybe a few other extras. Perhaps another set of bookends.
Of course, it'll be followed up in 5 years(from now) by the "Ultimate Ultimate box set" that'll have the hobbit packed in. Which will probably be followed by the "EE Hobbit Ultimat Ultimate Ultimate Box Set" the following year for the next movie, the "Ultimate ^4 box set" that christams, and the "Ultimate ^ 5 EE all 5 movies box set" 6 months after that. Seriously, it's out of hand.
In short, unlike last time, there's no real tangible reason for the wait other than the studio wants to have a tie-in. So, IMO, this is a double-dip. It's not being witheld in order to add more material to the films, it's being witheld for money, and to be very blunt, odds are good few of the people who buy it will actually watch the new extras anyways.
I really don't see the medium being any different in 2 years either. The resolution isn't going to change, the sound formats aren't going to change, nor is the compression codec going to change. It'll be the same medium in 2 years it is today.
As far as "They are coming", 2 years from now. 2011. IMO, it's irrelevant, until 2011 they *aren't* coming for me, 'cause they're so far off it's pointless to consider them as coming.
So yeah, the whole thing ticks me off. Enough that, combined with the other things with this whole format, I won't buy into a new format again until it's established. Honestly, if a studio wants my buisness, trying to double-dip isn't a good way to get it.