Fans in Memphis today for Elvis Week 2000 will get a sneak peek at an updated Elvis classic. To mark the 30th anniversary of the 1970 MGM concert film, Elvis, That's the Way It Is, Turner Entertainment (which now owns the rights) has remastered and re-edited the original. The new version will air in letterbox format on Turner Classic Movies (TCM) Jan. 8 (Presley's birthday) and will be released on DVD and VHS on Jan. 9. Graceland has arranged for an exclusive premiere Aug. 12 (7 p.m.) at the Orpheum Theatre. The TV version will include 40 percent new material and will omit the documentary interviews. The DVD edition will include even more footage and a behind-the-scenes look at the revamping of the film. Turner is considering a limited theatrical release later this year, according to Elvis-Presley.com. Other Elvis Week activities include live music, a '70s flashback dance party and Elvis double feature on Sunday (Aug. 13), and the annual candlelight vigil at Graceland Tuesday night (Aug. 15). The solemn event traditionally ends early on Aug. 16, the day Presley died in 1977.