Of course, retrofitting films into 3D has had an incredible track record so far: Alice in Wonderland, Clash of the Titans, The Last Airbender...yeah, that was sarcasm. But who knows, Avatar still is the only film I've seen where I believe 3D improved it. So maybe in Cameron's hands this will work.
Of course, I'm not getting my hopes up too much. I actually didn't care much for Titanic; it had some fine performances and great technical aspects, but otherwise I felt like it was too melodramatic, too contrived, and too generic (I felt the same about Avatar, for the record). But whatever.
Are you excited about this? Or do you think its rather unnecessary?