They did announce an a complete series DVD boxset, but the only special feature unique to that set is a new gag reel. So, nothing really special.
And, yeah, creator David Simon prefers the show in 4:3 standard-def... so that's likely the way it will remain, although 16:9 masters of the show exist per HBO's wishes. But I doubt we'll see any attempt at a Blu-ray release anytime soon.
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