Michael d: "but I read an interview with Peter Jackson (do not recall where) where he stated how disappointed he was with the theatrical version transfer to BR and that he was personally going to be involved with the extended version transfer. This is also why it is coming out so much later than the theatrical version."

I've also read the same things as you.

See: http://www.blu-ray.com/community/gallery.php?member=Gelli
or: Axiom Gallery