They only said 'all 291 episodes', so I don't think it includes the movies. I'm fairly certain that the movies are being released in their own little box sets anyway. Whether they get the HD/widescreen treatment remains to be seen.

The core story elements were actually fairly good, even if it did boil down to predictability. After all, it was made for young boys. DBZ is a legend among anime: not only is it the most successful anime ever, but it blazed the trail for anime outside of Japan and continues to be the inspiration for new series that followed. The creators of Naruto and Bleach directly credit Dragonball as being their inspiration to get into that line of work, and I'm sure many others would as well.

Not only as an anime connoisseur but as a fan of the series, I will be proud to have the entire collection (and pay for it) in one cohesive set.