It can be any franchise that either doesn't have a sequel announced and that hasnt been around for a while, or a franchise that used to be incredible but for whatever reason, is abysmal now. Any franchise you think needs to make a comeback.

I would say:

1) ATV Off road Fury - I used to play this game all the time it was a blast and I think it would be incredible on PS3/360.

2) Tony Hawk's Pro Skater/Underground - Another game i spent countless hours playing but ever since Neversoft stopped developing the games, they just haven't been good. I would say a game like Tony Hawk's Underground on PS3/360 would be incredible. Probably the only sports game with an amazing story.

3) Fatal Frame - Very good series, scary stuff. I haven't found anything as scary this gen. and that includes Amnesia the Dark Decent.

4) All the Capcom and Konami Horror games that were on the PS2.

Next year will make 20 years since it came out. Time for a sequel, don'tcha think?!

Baldur's Gate.

Dragon Age proved that a game like that can still sell... And Baldur's is better than it in pretty much every way. 

Final Fantasy.

!

Rayman and Spyro!

Wing Commander, Little Big Adventure,  Myst...

Blinx and Fusion Frenzy. Would probably work well with the family approach Microsoft is going for and could probably make pretty good Kinect titles.

Also think Guitar Hero needs a revival, although Activision should wait until about 2015 (with no releases inbetween) before they release anything along the lines of 'Guitar Hero Comeback Tour'

Rayman is getting a revival. Wish I could say the same about Spyro, but hey we got Ratchet and Clank.

Lets hope FFVersusXIII is that revival.

Yeah but I think it's a franchise that deserves something bigger.