I guess it would get a blu-ray release. How it looks depends on what they do, if anything. The classic dr who dvd's get a lot of treatment. The dr who restoration group, I think they are called, use to give detained information on what they do and they use to have a forum. One of them mentioned that the reason some dvd's, and I guess blu-ray, are not as nice as others is some just grab a master, not doing any work to clean it up, or the video they get from the master, or they may use a 2nd generation master, or a 2nd generation master used for copies they sell to tv stations.
Besides the audio work one person does to clean up the audio, remove background sounds, hiss, resinc sounds to video, they do video clean up to remove dirt and such, do more work, to replace scratches and stuff, and then usually vidfire. Forgot what vidfire is. They mentioned that most studios don't do all the work for their dvd releases that the bbc/2 entertain has them do for classic dr dvd's.