There is a report over at Newsarama regarding DC Comics RRP meeting in Montreal. Among the news comes this information on Absolute Sandman:
Absolute Sandman starts in 2006; there was no announcement of price or extras yet, but DC will be recoloring the early issues of the Sandman series to match the higher production values of the later issues, as well as touching up the lettering in some issues where reversed lettering dropped out a bit. This is part of a plan to do every Sandman story in the Absolute format. Concurrent with the publication of Absolute Sandman, DC will not be keeping the current hardcovers edition collections of the series in print.