Originally Posted by TheGameSquid
From what I understood, Arkana Studios actually intended to make Arx Fatalis another entry into to Underworld franchise, but they were unable to obtain the license. According to Arkane's CEO they contacted the founder of Looking Glass to ask for his help. He was willing to help them establish a new UW game, but EA didn't want to cooperate (they prefer sitting on licenses so they can turn them into browser based games 20 years later).
On topic, I often get very frustrated by UW1 and UW2. I can feel that they are great games that are pretty much my style (especially since I enjoyed Arx so mcuh), but the interface was so cumbersome and the game's viewport was so insanely small that I always had a lot of trouble playing it. When that System Shock mouselook mod was released I was silently hoping for a mouselook mod for UW, but that's probably not going to happen.
Most of the attempted fan-remakes I knew were mods. Unfortunately, I think it's rather hard to mod an existing engine for UW, because it's such a unique game. If any remake is to be completed, it will have to be on an engine built from the ground up for UW.