The advantage old game franchises have is that they enable a game to be able to get greater name recognition and stand out more. The game then has to be able to deliver. If it doesn't then it was pointless. One of the hardest things in the business is to a franchise established with a track record. Consider Eat Lead (Matt Hazzard) for example. You can try to fake that a game is retro, but if no one knows it, it isn't going to generate sales. Compare that with Duke Nukem. Duke, on the other hand, by being Duke, ends up getting attention, and curiosity.
Key is to take the old franchise and update it for the modern era, so that people would want to play it. Pac Man: Championship Edition, would qualify. I would say 3D Bionic Commando doesn't.
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