I think new games for old systems is a great thing! Everyone is so concentrated on PS4 and the new xbox with nothing more than... "are the graphics a lot better? I'm buying one!"
I think sometimes we forget it's the game play that counts (obviously no1 on this board) :P
The best game I have played in a while was actually re-playing chaos engine from years ago! I had much more fun playing that with a friend than any new gen console game.
So yea, It's a great idea. Possibly the goal of £35,000 is a tad unrealistic though.