Sega's Daytona USA HD port was better than arcade perfect and the port team responsible for it should put their talents to work on translating other Model 2 and 3 racers.
SEGA Rally Championship 1995 is chronologically next after Daytona USA. After Sega Rally, Daytona USA 2 (which has been hinted to me by a Sega forum mod for release) and Scud Race should follow.
It would make a lot of sense to make these PC/Steam releases as well as they are doing with the masterful looking port of Jet Set Radio.
The original arcade Sega Rally Championship 1995 is still one of the most heavily downloaded classic arcade roms and PC gamers would gladly snatch up a digital download that would support their favorite steering wheel.
Online multiplayer is a given.
Gameplay fun, handling and physics-wise, SEGA Rally Championship 1995 still holds up a great and entertaining single and multiplayer arcade gaming experience better than any other version of SEGA Rally that has been released since then, and thus reserving of an HD rerelease.

GAME OVER YEAH!