I believe David is referring to the compression and authoring of the DVD itself, not the many, many months of work cleaning each frame of the film (already completed). The sound mix is also already set - it will be a 2.0 stereo surround re-mix done in the early 1990s by Lynch and original EH sound designer Alan Splet (who has since passed away).

The original intent was to have an uncompressed PCM sound track on the EH DVD. However, David has shared on his web site that they have had quite a bit of trouble getting the compression to a level he finds acceptable, and I still hope the uncompressed PCM track will be retained (as opposed to saving bits for video by going Dolby Digital 2.0).

There was also going to be numerous recollections and interviews on the DVD, but again, what will now stay or go is anyone's guess. All the words we've been hearing from David since the beginning of this year is that lots and lots of work has gone into (and will continue to go into) the definitive version of EH, and that the quality will be something else!

As for any other versions of EH out there - I'm certain the quality will not compare to what Lynch's folks will put out eventually. I, for one, am waiting!