That's an AWFUL April's fool to make. Seriously, there are things you don't play with. Beloved dead RPGs are just under Beloved dead relatives on the list of "Shit you don't joke about, ever". Not that I believed it for a second, but that's really just rubbing salt on the wound. Please don't do that again. Or I'll kill you. Dead. Like I'm dead inside from the dark void of my loveless existence.

I would support any Alternity 2nd ed bid however I could.
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Yeah, I got my hopes very, very far up until I remembered what day it was. I don't see why a retroclone of the core rules would get you into any more legal trouble than the D&D retroclones, or the retroclone of the RPG based on a British spy that TSR put out: One is their cash cow, the other has a movie theatre enforcing copywrite, so I'd say both are bigger lawyer-bait.
However, you couldn't have the settings, and I can't really see Alternity working without Stardrive or Dark*Matter backing it up.

On the other hand Dark*Matter for d20 might still be easy to find, so you could use that, and you could use GURPS Infinite Worlds for Tangents. StarDrive is the best one though…
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@Canageek: I always regarded Alternity as a moreor less generic SF RPG. While I own both StarDrive and Darkmatter, my reason for picking it up were the rules, not the settings.

I encountered it from StarDrive and Dark*Matter, and there were bits of StarDrive in the PHB if I recall correctly.
So why do you think a retroclone of the generic rules?
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I saw through Sunglar’s mischief immediately when I read who the alleged “publisher” was 😉 but I would not have been fooled even if the ruse was more clandestine.

Let’s face it, Alternity joined the ranks of games gone with one and only edition. The point is, it’s not a bad thing. Honestly, do we really need a new edition? The game is still available if one really wants to get it in one form or another so are the settings. The setting enthusiast are even in a better position even because both Dark Matter and Gamma World seen other editions. Star Drive, well, that’s the main loss but as all know it was a pretty generic space opera bash and there is plenty of SD web material out there to build your own.

Also, I don’t think a retro-clone approach applies here. Alternity is not retro enough (?). (Star Frontiers is I thought)

I’d love an official refreshed version though, with all the errata and cleanup done – second printing if you will. A pdf would do as long as it’s properly done digital version. That is all I need.

If a retro was ever done they could incorporate a setting like DragonStar or something to replace the actual IP WotC would have issue with.