Shenmue HD release update from SEGA...

“It’s something we would love to make happen, something we are trying to make happen. I think we want it to happen as much as anybody out there. Yes, it’s a serious task and it’s not a task that we’re not working on, if that makes sense. It’s something we’re actively pursuing,” said Clark, during a chat with MCV.

Taken from :

http://www.psu.com/news/33746/shenmue-hd-release-update-sega

I hope that we get it!! I have it on the Dreamcast, but an HD remaster would be very nice too, especially if it allows for dual-audio.

"...it’s not a task that we’re not working on, if that makes sense..."

So they are looking at the logisitics, but not actually working on new textures & what-have-you just yet.

SEGA should definitely try to get Shenmue I & II HD out before the Shenmue III to potentially grab some new fans and thus, improve the chances of the third game selling well.

Surprise announcement at PSX, with new Shenmue 3 trailer

Hopefully they do it, would be great to generate more interest.

it's going to happen. Just as soon as they're done with all the legal stuff.

Confirmed. Next up: Half-Life 3.

yea, i loved the 1st one, but didn't have an xbox to play the 2nd, so despite my excitement that shenmue is relevant again, I'm a bit removed from the story, which really discourages me from jumping on 3

Cause Crazy Taxi, Sonic Adventure 1 & 2, and Jet Set Radio were so costly to port to the PS3...
If you're having problems with licensing of products (Only issue I can think of) then just pay the damn money.