I think I know what Kori-Maru is getting at. The Resident Evil remake for GameCube had graphics that bordered on photo-realistic. It took a game that looked like an effective B-grade horror film and made it even creepier. I can see House of the Dead getting that sort of visual treatment. Being able to see insects crawling in the rubble outside the mansion, blowing off a zombie's head in a glorious display of red mist intermixed with chunks of rotting human meat. It would certainly benefit from an HD remake. That's not to say it wouldn't be a lightgun, because it would. The game would simply have updated visuals and sound. I'm down for that.
However, my first choice would be the original Phantasy Star from the SMS. Updated graphics, sound, and - as an added bonus - the original un-touched Phantasy Star. That would kill.