Gauntlet 1 and 2 is perfect and can't really be changed too much. I was going to do one, even had some discussions with the guy who wrote Multi Gauntlet Emulator for DOS as I wanted to replicate it perfectly technically before improving it.
I suppose if you had the ability to shoot over walls like the lobbers can, and also make the maze 640x512 but still use the same sized graphics to give you 400% larger play area and viewable area of the map too.
My version was going to be a 32 player/monster version (8 players and 24 monsters) online version after that.
And then see if I could do a 1280x512 16 colour version using AGA as well for the ultimate single player version.
Gauntlet Seven Sorrows is as close as you will get to a remake in 3D (still not the same but nobody else has come that close) but I have played many a clone and nothing comes close to the relentlessness of the original arcade versions and the simplicity of the tactical element (food/water for health+keys to open doors+simple power ups like magic 'smart bomb'). When people mess with the formula they get it wrong by changing the mix and the complexity.
Higher screen rez (to display the same graphic detail but more of the dungeon), ability to have more than 4 players at once, those are the only things that need to be applied to the 80s technology of the arcade games. The rest should be minor tweaks to a gameplay design that works flawlessly.
(flawlessly as an arcade game that is, if you love RPGs it's not for you)