So much interesting info in these last posts. Thank you all!
So it looks like the main chance for a Shenmue HD remake nowadays rests on Sony. That's a good thing because it might happen (and because it's not Sega :-)), but I fear that would mean Playstation exclusivity (no PC version), which wouldn't be as nice for preservation purposes.
But of course I would accept that, Sony would be entitled to it if they are really the ones funding the project...