I didn't like Power Drift all that much, even hang-on was nothing special and not my most played game on the genesis/md.
The most time I spent playing Hang-On was probably in Shenmue only. So if Hang-On is to be resurrected it has to offer more, but what you want it to offer?
I am not a racing game enthusiast and isn't the genre dying anyway.
Edit: Hadn't read TA's comments on the last page.
@TA: Sega can't take full responsibility for Hang-On Saturn, as it wasn't an in-house game and second it was delayed forever.
The game hit Japan in 94, US 95, Europe 96 and games aged alot faster durring the 4th Gen.