Here's some even more news about the subject:
http://gamespot.com/gamespot/stories...858639,00.html
"GameSpot has learned more details concerning the remakes of classic Sega titles for the Xbox. Currently, four titles are in development, and one of them is already 50 percent complete and running on the Xbox hardware. The four titles are expected to be announced sometime in May in Japan. The development is being handled by both Sega and Cool Net Entertainment, who is also working on Rune Brid for the Xbox and Buzz Rod for the PlayStation 2."