"Remastered" in 3D
The Phantom Menace wasn't a good film to start with so now it will suck in a new dimension. Or a half.
2D to 3D conversion involves constructing a primitive 3D representation of the scene to make a depth map and then digitally draping the image over the top of it, capturing views for left & right eye. At best it looks passable, at worst it looks like a diorama with cardboard cutouts appearing at various depths. Worse is that 2D films often cut between long & far shots and commit other depth / focus problems that cause eyestrain and headaches after being converted.
The best one could hope for is some of the ropier CG in The Phantom Menace gets remodelled and stuff like space battles, pod race etc can be rerendered natively in 3D but I expect most of the movie will get the crappy 2D conversion process.