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What would they have to charge to make it worthwhile to stamp all these new CDs? If they can do it cheaply you'd think someone would've already cashed in on the comparative scarcity of, say, Panzer Dragoon Saga for the Sega Saturn or Popful Mail for the Sega CD.
A re-issue of a CD-based game is really cheap. If they sell online and avoid the retail chain, the costs are even lower. Even for a really small (or even "custom") printing, I can't see it costing more than ten bucks. So selling it for anything over that would be pure profit.
The problem is, companies don't think that you can sell in big volumes on a game that has already passed, so they don't think it's even worth their time to even think about it. Fans? Hah! They're meaningless windbags. You can get $200 out of some guy on eBay? Big deal. The company doesn't want $200. They want $2,000,000.
Then there's also any licencing problems, as most older contracts have expired and need to be re-negotiated. And the rights-holders demand to know exactly how many copies of the game you expect to sell, up-front, before they sign anything. You often hear about some companies having to make certain "commitments" about sales levels, otherwise they have to pay penalty rates to the rights-holders.
Of course, all of those problems apply to the download system Nintendo's already working on. The only difference is that re-issued CD games would deliver something hard and tangible to you, and might cost ten bucks more than whatever the downloads are going to cost.
One thing's for sure though, and that's that none of this would be happening without Nintendo's "Classic NES Series" putting dollar signs into people's eyes.
(BTW, if Nintendo does arrange to re-release games for old CD consoles (which I doubt they will), I'd want them to be playable on their original hardware. Even if I'd never play them that way. Unless they're "enhanced" for the Revolution.)