That's how Metal Gear Solid: The Twin Snakes (a GameCube remake of the original for the PlayStation from 1998) was done. They took the MGS2 engine, remade the assets (including re-recording all the dialogue, bc the original recordings were unusable in the higher-fidelity consoles of the GC/PS2 generation) and plopped those into it, and bam. MGS with high-poly graphics, first-person aim, all the modern conveniences.
Now if they'd just ported that to the PS2 (or 3-5)....
That's how Metal Gear Solid: The Twin Snakes (a GameCube remake of the original for the PlayStation from 1998) was done. They took the MGS2 engine, remade the assets (including re-recording all the dialogue, bc the original recordings were unusable in the higher-fidelity consoles of the GC/PS2 generation) and plopped those into it, and bam. MGS with high-poly graphics, first-person aim, all the modern conveniences.
Now if they'd just ported that to the PS2 (or 3-5)....