Hm...
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...Interestingly enough, I've always looked at it as them remaking RBG rather than FRLG. What with all of the alternate universe nonsense that's going on, retconning wouldn't be much of an issue, and it'd give them a lot more room and freedom to play around- plus, in terms of music and map design (or the little that was changed- again, FRLG was pretty damn conservative) they could practically do what they want to make Kanto feel more 3 Dimensional and alive. I'd love to see them break the standard and rebuild RBG Kanto from the ground up, redesigning maps and adding content and whatnot. Considering it's the first game in the series, I imagine such actions would be applauded in an effort to make a region that's more natural and alive.
But more than anything (well, not more than orchestral remastery of the soundtrack, but...), I'd like to see how they would do Giovanni (or Team Rocket as a whole). I've always liked him as a leader. Some say he's too simple but, personally, that's what I like about him. He has a goal in mind and the collateral along the way is merely a means to an end. He's a gangster- he respects his crew and, in return, he demands respect. He also has a very natural imposition about him, he just seems intimidating and the grip he has over Kanto is rather terrifying. He's simple, but damn if he isn't interesting. Considering how emotive and cinematic Pokemon has come in the past 2(/3) generations, as well as how much they've increased their emphasis on story, I imagine it'd be pretty interesting.
In the end, I just think a new remake of the originals would be great. Ideally, they would completely redo the game (script, maps, music, and so on) to create a fresh and ultimately better experience, but hell, I could even live with a remake on level with HGSS/ORAS.
