I think I recall there being rumors of it coming out around the release of the Naked album and then again in 2004 or 5, but nothing as yet, I think it was all cleaned up and ready because in an interview the McCartney one said that the album came from him bumping into director Lindsey-Hogg who said he wanted to put it out on official DVD release.
Found this from wiki:
The movie was remastered from the original 16 mm film negative by Apple in 1992, with a few of those scenes used in The Beatles Anthology documentary. After additional remastering, a DVD release was planned to accompany the 2003 release of Let It Be… Naked, including a second DVD of bonus material, but it never materialized. In February 2007, Apple Corps' Neil Aspinall said, "The film was so controversial when it first came out. When we got halfway through restoring it, we looked at the outtakes and realized: this stuff is still controversial. It raised a lot of old issues."
An anonymous industry source told the Daily Express in July 2008 that, according to Apple insiders, McCartney and Starr blocked the release of the film on DVD. The two were concerned about the effect on the band's "global brand ... if the public sees the darker side of the story. Neither Paul nor Ringo would feel comfortable publicising a film showing The Beatles getting on each other's nerves ... There’s all sorts of extra footage showing more squabbles but it’s unlikely it will ever see the light of day in Paul and Ringo’s lifetime.”
I don't thnk anything about the project was right. The whole things got a nasty b****y cold atmosphere to it. On a personal point the first time I got the tombstone album I played it whilst the family was in the room and some 'unreleated' arguement developed. The first time I watched the movie I did it with a bottle of whiskey and I thought it would be cool to smoke some cigarettes... I'm still smoking after about 6 or 7 years. So I say bugger Let It Be. Funk Magical Mystery Tour instead.