Tychoxi: I'm currently romping through Baldur's Gate "Trilogy" (thank you GOG and your awesome discounts (and the modders)!) and loving it. But given BioWare's recent track record I'm not too enthusiastic about this to be honest.
It would be awesome though if it proves successful and then they decide to develop BG III into that updated engine! If its really just cosmetic and technical upgrades then the whole deal will end up a real nice, cohesive trilogy. Specially if they give it to Obsidian so the guys involved finish what was cancelled at Black Isle.
Considering the guy left Bioware and formed his own company you won't have to worry about that. Wizards of the Coast/Atari are the two who you may want to watch because one of them screwed up D&D while the other one screwed up D&D games.
This is more or less going to be a '1:1' update with some new stuff added in as opposed to a remake so it would be pretty hard to screw up.