It's unfortunate that this is a PS2 port, but I think it makes sense from Tecmo's standpoint. Their testing the Wii waters with a true Tecmo-style game(as opposed to Pangya Golf) to see if there is interest. It makes sense also to bring Rygar to the system. When I thought of classic franchises that could benfit from a jump to the Wii, Rygar and Castlevania immediately jumped to mind.
Then there is the fact that they obviously spent a decent amount of cash making this game years ago only to have it bomb. They might actually turn a profit on the game even if it only sells about what the PS2 version sold here in America.
This also saves me from having to track down the PS2 version, which I've been looking for lately. Even if I did find the PS2 version, my PS2 is broke, so I'd be kinda screwed until the PS2 get another price drop or the PS3 falls into my range and gets their library up to snuff(assuming they have the emulation for the game, of course).
"I feel like I could take on the whole Empire myself."
