I agree, for the most part, like I said, I just don't know if the collaboration would be possible, but regardless, I'd be happy for either.
I've just been thinking about remakes lately. I know they're usually frowned upon with games, but then I also realize that some pretty darn good movies have been remakes, whereas a sequel has ruined, or nearly ruined franchises. I think either way would be great, but a remake has less chance for failure most of the time.
In that vein, think of Chrono Trigger. Great game. It gets a sequel, and it's more hit or miss between everyone, even fans of the first. However, Chrono Trigger Resurrection seemed to be something everyone was looking forward to. IMO, if Square Enix can get the collaboration for the game to be ported to the VC, I'd much rather see an all out remake to it. If Square Enix said that they are planning another sequel, I'd doubt I'd be near as excited about it as I would a CT remake.