While we still don't know the release date, price or if it will contain the changes made in the 2002 edition of the flick, Universal posted a trailer for the Blu-ray (embedded after the break, note that at 0:25 seconds the FBI agents are holding guns, so it appears to be the original) that confirmed a digital remastering from the 35MM film, 7.1 surround sound and "hours of bonus features".

ENGADGET: E.T.: The Extra-Terrestrial Blu-ray trailer and box art pop up online (video)

Kramer says he spent a year remastering the old analog tapes, using state-of-the-art digital technology to clean up the sound.

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