I only ever played the demo of the original so I can understand the appeal at least to some extent, this with virtual on might well be the last great games for PS2

then again I do find it amusing how PS2 is still releasing so many worthwhile games while everything else has moved on, not that it's a bad thing, it's just like everyone
but Sony knows what a fuck up they made of the PS3
So.. they'll gladly remake NiGHTS (not that I'm ungrateful), but never Panzer Dragoon Saga or Burning Rangers? 
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Oh hell yes Panzer needs a rehash of some kind, I was playing that when it came out before I even knew what an RPG was. I don't fully understand the appeal of burning rangers looking back though, blowing dust of the old box to try it again more then anything else the voice acting of the two main characters makes my ears bleed now, for a remake to work they would need a to change quite a lot imo.
One other game deserves mention for the remake treatment though, Guardian Heroes! Excluding the shite emo GBA game, for me that game was the beat em up equivalent of final fantasy. If that game had appeared on a system like the Playstation I bet it would have 10+ sequels too =P
Jam it back in, in the dark.