Personally I think a flat out remake with better graphics such as Twin Snakes is a waste of time. I don't care much for a company to spend time remaking a game just the same as it was before but with better graphics and a few extra cut scenes that are only there to be bad-ass. Re-imagining a game, like Capcom did with Resident Evil, is a safe bet. They did a full on remake, added a load of new material and came out with a quality game, again. Except characters still controlled like WWII Tanks.
I'd like to see the Streets of Rage series get a remake. 3D, better graphics, sweet control system and a lengthy game that plays through all three episodes of the series in one stream. It could be a sweet game, also release it under the original Japanese title, not for the jappa-fags but because "Bare Knuckle" sounds much better than "Streets of Rage".