We reported back at the beginning of this year that the 1993 DOS classic Star Wars: X-Wing was getting re-mastered, and now the team have released a brand new trailer, showing off the gameplay and enhanced graphics engine.
The project is a sort of hybrid between a mod and a fan game - while there is new code involved to make the game work, it does require the original X-Wing game in order to function. As you can see from the new trailer, there are several spectacular enhancements to the engine, including HDR lighting, additional planets and environmental enhancements, and a much improved UI.
In addition, the AI has been overhauled to be much improved over the base game. The mod's author has stated the project is around 30% complete so far, but if you're interested in keeping up to date with the project, you can find out more on the official mod page.