First of all, hello everyone! I'm new here and glad to be able to contribute some new news....at least regarding a much better edition of Titanic on DVD. Check out this blurb that I came across on www.thedigitalbits.com:

Here's a big title a lot of you have been waiting for. In fact, one might even call it a titanic title. Yes... we've confirmed with our industry sources that a multi-disc Titanic: Special Collector's Edition is finally in production (and yes, with anamorphic widescreen video). Fox will release it internationally, while Paramount will release it here in the States. According to our sources, the tentative plan calls for having it on store shelves in the 4th Qtr of this year. IF that's the case, we believe that Paramount and Fox would have to make official announcements sometime in the next few months. Stay tuned for more on this as it develops.