I am quite curious on how other game series could make a comeback. Like Wild Arms for example. I'm thinking of getting some team members together, and I can come up with ideas for controls.
Media.Vision was originally going to remake Wild Arms 2, but they lacked the funds to do so. And I don't see any racism in Wild Arms. In fact, if I were to make a game that came with a fanmade engine, it would include a playable Janus Cascade, mainly because he's now my favorite WA villain, next to Lord Blazer.
Gallows? Well at least they don't make racist jokes about him.
Like I said, I came up with the idea of making a fan engine to make RPGs in the style of Wild Arms 2 or 3.
If that is the case, I do not see why wild arms would be your goal. It had a few mechanics that were interesting, but I would suggest building on a unique way to build on the overall gameplay.
My suggestion is to brain storm and see what the flaws of the gameplay were, then fix them and make it overall better.
In Wild Arms 3, when you are out of battle, the controls were more sensitive then those of Wild Arms 2, making it more difficult to go to different rooms and solving Millennium Puzzles. In Wild Arms Alter Code: F, this applied to the games engine, and in battle when you load one character over the other, their models would be in the SAME EXACT PLACE.