What I mean by this is... do you think that Viz Media will ever release an Original & Uncut boxset for the Pokemon Anime? As in, all the originally cut and edited footage would be left intact? They did this with Naruto. So what about Pokemon?
If you ask me I'd love to see something like this, but I'm pretty sure it wouldn't end well. All the editing. The other thing is that Pokemon is a "kid's show" in America so making it Original & Uncut would make that factor a bit...iffy.
I too doubt that this will happen... BUT they could release it digitally (e.g. through iTunes) because if they released the box-set for real on discs then not many people will buy it mainly because of the scene with James' breasts, though if it was digital then people will download all episodes excluding any ones they don't like (everybody wins lol).
I love the idea itself, as I will get to see the English version of "Electric Soldier Porygon" :D that would be really great...
Banned episodes most likely won't appear in the box sets at all. Even with the DBZ versions, they had edited parts in the early episodes (Blood colored different, wounds not appearing as gorey as they should). The big issue'd episodes would still be edited to be allowed distribution, and the banned won't be able to be included.