But, if they were to remake it, I would imagine all they would really do is upgrade the graphics. I don't see them screwing around with the story or battle mechanics too much. I don't see why they would, anyways. I don't necessarily have a problem with the "older style" Shin Megami Tensei games -- in fact, I prefer them, and would greatly like to see them make another SMT game in the same vein as 1, 2, and if....
And, I agree. Megami Tensei games haven't been all that good lately [I didn't like Nocturne, and despite my username, I thought Digital Devil Saga was terrible], and Persona 3 seems like it's going to be terrible, and the most cliché-ridden of the lot.
edit: Looking at screen shots of Persona, I guess it isn't nearly as ugly as I remembered it to be.
Your right, Digital Devil Saga 1 and 2 are terrible! I feel bad for anyone who waste their time and money on those 2. Anyone who liked those have no idea. Nocturne and Devil Summoner are awesome. My girlfriend has played Nocturne twice. She loves it, but I tell her Persona 3 is going to be the best Playstation game ever. Im upset I never bought Persona 2. I would have liked it as much as I like Nocturne.