I don't know... I think a full all-region version of the game is long overdue. Everyone wants to be able to travel to Kanto, Johto, and Hoenn in one game, but so far, only the Johto games [Silver, Gold, Crystal] have done more than one region.
I'm sure a special Pikachu version of the game would actually work. Pokemon Yellow actually achieved sales that were higher than the combined sales of Red/Blue and the Japan only release Green. Therefore, a LightningYellow game featuring Pikachu would be a welcome addition, if only to satisfy the many Pikachu fans wanting a comeback.
However, Kanto is old and Pokemon fans want more, right? If it were up to me, I'd make a Pokemon game to fit the story line of the shows, including the addition of the Orange Islands, as well as separate Leagues for each region.
Here's how it'd go. You'd start off in Kanto with a Pikachu that doesn't like you and won't get into its pokeball. The road to Veridian would have to be longer, because there would be the addition of minigames. AKA running from Spearows, meeting Misty in a little dialogue and stealing her bike, causing Pikachu's MASSIVE thundershock, and so on.
Sounds fun, eh? I've always wondered why they didn't actually follow the storyline. Maybe they thought it was too boring. O_o
Thus, I might just decide to start learning how to hack and do something like this... I don't have the best track record for projects, and it's likely I'll give up long before. Wish me luck! The Orange Islands maps would be totally new, since Nintendo decided not to incorporate the Islands into the games. Anyone feel like helping? I've got the storyline down completely, so if anyone is any good at hacking and things like that... I could use the help. ^^;