I wouldn't want them to re-record The Odyssey; just remaster it. The bass is too buried in the mix and the overall sound is simply flat. I'm no sound engineer, but I suspect that it's not too difficult to fix that.
If anything, the only thing that needs re-recording is the debut, due mostly to the lack of Russ. Even then, I'd rather see just a few songs re-recorded and used as bonus tracks (as Masquerade was) as opposed to the entire album. As Eyeball Kid said, redoing the whole album would make it seem like they were running out of ideas.
At this point, though, part of me would rather have them re-record the entire debut than do another "we r supr agresive metul" Iconoclast. However, part of me seriously doubts that they have it in them to write another progressive record. If When All Is Lost is any indication, they've lost the songwriting magic that produced tracks like Communion, Candlelight, Accolade, etc.
The biggest problem I see is that Pinnella, LePond, and Rullo are no longer part of the songwriting process; those three were responsible for some of the best moments on V and The Odyssey. I get the impression that aside from Paradise Lost's title track, the last two albums were written entirely by Romeo as he sat in his basement and fiddled around with guitars. Some great songs came out of it, but after a while, the music all starts to sound the same because it is written by one guy.
By his own admission, Portnoy didn't speak to John Myung for the last two years he was in DT.
You sure that isn't backwards?
I could see Myung not speaking to
anyone for two years...
I didn't know that, though. In that case, I'm quite glad Portnoy's gone; DT needs more Myung, stat.