A member over at gonnahitcharide.com recently contacted Barry Goudreau in regards to the remasters; he got a response.
Last that Barry heard, the remasters were slated for April (which may or may not happen, as the news previously reported). He also said that the live stuff is with the original lineup and is not the live material from the King Biscuit Flower Hour (which used the show from Long Beach '77 - available in the audio section). He also indicated that there's been serious talk of a full live album (which was also previously reported here Feb. 28/06).
Source: gonnahitcharide.com