Here's something unexpected - Sega are planning to release an updated version of their 1982 classic, Pengo. Except it's not how you might expect http://www.andriasang.com/e/blog/2010/07/30/pengo_returns/ for Ringwide arcade hardware
It's not RingEdge, it's RingWide. There's a difference. The same hardware also brought back the original Daytona USA (rebranded to SEGA Racing Classic) last year.
Not much. You are still using a 2ghz DX10 capable machine to power a 1982 game in widescreen mode. Don't get me wrong, I love re-releases of this kind, I just find it funny.
It's the lowest profile arcade board SEGA has currently in production (unless you count the Lindbergh still being used for the new Virtua Fighter 5 extensions), so recreating the game into this is the logical step for them. They aren't always going to do like what they did with the recent System-16 version of Fantasy Zone II.
Pepenga Pengo is more of a sequel in my eyes. It's a totally different game by all means, up to the point to even include the original Pengo game as a separate feature. I suppose Sega prefered sticking to Pengo not only because of being the original game, but also because of its arcade roots.
For a second there I thought it was playing Alex Kidd music. ...Come to think of it, I thought the same thing when I played Flicky for the first time. Its like they reused the same music for those games and barely changed notes.