massive collection of Genesis games entitled Sonic's Ultimate Genesis Collection. There are 40 titles planned to be included in the collection from the outset with more unlockable content in addition to that, including more games and interviews with creators. The collection is being developed by Backbone, the same company responsible for Sega's current Xbox Live Arcade offerings (as well as a metric ton of other XBLA classic rereleases). Some of the games included include the Sonic the Hedgehog series, four Phantasy Star titles (!), the Vectorman series, Space Harrier, Columns, and even Kid Chameleon (it's also hinted that Eternal Champions will be included). All the games in the collection have been "converted" to high definition and will be output in 720p. To top everything else, the collection will retail for only $29.99. The only caveat thus far is that it appears the collection won't support any sort of online multiplayer, as the game details page notes that players can play "with a friend from the same console at home."
Still, 40 games for 30 bucks is a damned good deal, and one that older gamers will find particularly difficult to resist. The initial list of 40 games is after the break. Sega plans to announce the unlockable titles "soon."
Source - Sega's press release
Source - Sega's game details page