Nah, for a 2D game, going proper HD makes it damn expensive, at least according to the guys that did Castlevania. SSF2 can do it because there's only a few characters. Try doing it for 100's of wrestlers + CAW parts.
It would be easier to use polygons and just keep the perspective as-is to keep the feel (or my preferable option, keep it the same as it is now).
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