According to the crew at jeuxvideo24.com, PS3 and Xbox 360 owners can expect a "re-mastered" version of Sega's Space Channel 5 Part 2 to show up on PSN and XBLA sometime new year.
Why isn't the company starting with Ulala's first face-off with the Morolians? Well, unlike the ones that were featured in its fully polygonal sequel, the backgrounds in the original Space Channel 5 were made up of (poorly compressed) pre-rendered videos--which would have to be re-rendered if the game is to be properly displayed in 720p.
That said, Space Channel 5 Part 2 (watch the game's first "battle" here) is considered by many fans to be the better of the two Tetsuya Mizuguchi-developed games, so maybe it's best that the folks at Sega are concentrating on the sequel at the moment.
Buy: Space Channel 5 (Special Edition)