OMG..... Been looking off and on for something like this for years. Even signed in to the SourceForge site mentioned earlier...
This is one of my favorite games of all time, but what made it so was the psuedo historical aspects, alchemy and the saints. The armor, weapons, combat, etc were decent for the technology at the time, but annoying even then.
If you simply added:
A modernized and balanced version of the Alchemy system
A balanced version of the Saints and Saintly powers
The psuedo historical references of the Hanseatic League cities, each with their specific Saint, Armor smiths, Weapons Smith, Alchemist and such.
Historically accurate armor and weapon types, and their advantages and disadvantages when compared to each other.
To:
A more modern and complex computerized combat system
A wider group of abilities and skills
A more modern graphics,
You would have an awesome game.
Not sure you would even have to re-invent the wheel actually. As you might be able to use existing game engines to work with. The Oblivion engine as others have recommended, although nice, would not work for the 4 character party concept of a single player game.
For example: The AD&D engine used in NWN1 or NWN2 could work perfectly.
A combat system should be behind the scenes, and with both NWN1 and NWN2, you can have a "Pause," make decisions "Unpause", engage in combat, "Pause," make decisions gameplay. Just like in darklands.
The AD&D skills could easily be adapted to the Alchemy, Skill Use, Combat, and Hit Points of the original Darklands too. An advantage being, that the Raubritters, and other encounters could scale with the party.
All you would have to do, is strip the existing God/Spell/Crafting from the engine, and add one for Alchemy, Saints and Darklands skills. Plus, there is lots of custom player created contect that could be added to make the world more intense.
Just my $.02
CT
Just an observation from a fellow fan of the game.