I'm afraid I whip this dead horse a little too much (I think I'm at about a 1:1 ratio with Yahtzee and Silent Hill 2), but my favorite game of all time is the oft maligned and misunderstood Chrono Cross. Given a graphical overhaul (only for the characters though, the hand drawn scenery was gorgeous), and maaaybe voiceovers (nearly every character in the game had a distinct accent), I think it'd fit in well.
It probably wouldn't sell well over here (way too colorful and blood-free for today's average gamer), but it would do a killing in Japan.
Edit: On second thought, I wouldn't resurrect a specific game, but I'd like to see forgotten gameplay elements make a comeback. I grew up loving turn based RPGs, but there are almost none being made today. Come on writers!! Work out a good story, dream up some believable characters and give me a good 'ol Final Fantasy 7-9 kind of experience again!