For the past two years, Ben Hickling has been slowly working on a Star Fox inspired game called EX Zodiac that pushes all the nostalgia buttons. It's go low-poly models, sprite-based effects, vertex coloring, gibberish communications from the characters, and genuine Star Fox gameplay. It looks like something that we might have seen from a Super FX version 2 if there ever was such a thing. Truth be told, I'm kinda jealous he's working on this. I wanted to make something like this myself!
So far, there's video of a Corneria-like level with tons of different enemies, obstacles, and showcasing both laser and missile weapons. There's over-water level with floating mines, rings to fly through, and cool sprite effects. Here's video of a boss enemy, a giant scorpion robot thing. Check out the links for even more footage and details.