You know what? I think we should leave the Unreal 1 remaking to an actual commercial game studio. I think Teotl would be a good choice. Seriously, the whole time I was playing The Ball I felt like a Skaarj was going to hop around a corner and start shooting at me. The whole game has an overwhelming Unreal 1 feel to it.
The only problems with this would be getting Epic to agree to lend them the Unreal License, and convincing Teotl to go through with it, and not necessarily in that order.
EDIT: Either this or we could get Teotl to make Unreal 3. Seriously, if we let today's Epic make Unreal 3 there's no telling what they'll do to it. Well, actually, I can tell you. Meatbag characters, gloomy levels, awful retconning (Field Lattice Generators? WHY), and mercenaries as the main villains. (actually that last one wouldn't be so bad...)