Great news, one of my all time favorite films is getting a blu-ray release. According too blu-ray.com it will be coming with some of the long lost, and recently found footage freshly restored. Whether they'll be as separate scene's in the menu's or if they'll be inserted into the movie as a sort of directors cut is yet to be determined. David Lynch has confirmed that not all the scene's will make it(Source).
I'm excited either way, but am especially hopeful for a chance to see the whole movie. If this release does well it could also raise our chances of seeing the Fire Walk With Me deleted scenes...Release date is currently set to November 11th, 2011 according to DVDaf and the 8th of November according to Amazon; although it's tentative and could still change.