UCFKevin chimes in with this report on a possible restoration of the Indy movies for theaters:

Just read this on IMDB.com

Indy May Be Spiffed Up, Too -- Like E.T.
Following a screening of a restored and digitally "tweaked" 20th Anniversary Special Edition: E.T. -- The Extra-Terrestrial in Salt Lake City, Frank Marshall, who co-produced the film with his wife, Kathleen Kennedy Marshall, indicated that plans are afoot to similarly renew the Indiana Jones movies, which the Marshalls also co-produced, according to an article appearing on the DreamWorks' fan website. "We're thinking about doing this with Indy," Marshall was quoted as saying, "bringing it back and spiffing up the effects. Before seeing the new E.T., we would have had mixed feelings about seeing Raiders [of the Lost Ark] touched in any way. Now the prospect is mouth watering."