The trailer for the WiiWare version of Phalanx
(after the break) reveals that it looks very much like a 16-bit game, rather than a remake of a 16-bit game. In fact, it looks identical to the Sharp X68000
version upon which it is based (and which is included in its unaltered form in the 500-point download).
Essentially, developer Zoom is using WiiWare to release a Virtual Console game whose platform isn't supported on the Virtual Console -- with some new bonus content, like a new mode with new stages and manual weapon selection. We approve of this tactic. Phalanx will be released on December 22 in Japan.