Lucas learned from his Avatar experience, some movies are just made for 3-D. As The Hollywood Reporter reports, the first film will be released in 2012:
Episode I, "The Phantom Menace," would be first out of star-dock during early 2012. After that, each film would be released in order at the same time in consecutive years, depending on how well the first rerelease does.
Each conversion takes at least a year to complete, with Lucas overseeing the process to make sure each is as perfect as possible. He has said that the "Avatar" experience convinced him that "Star Wars" is ready for the state-of-the-art 3D treatment.
Read the full story at The Hollywood Reporter.