While I think it wouldn't be a bad idea to have a second mode with a sort of classic version around there are a few difficulties with the plan that TFP makes an official version:
* While there are many people pining for older versions many of them want some other specific version, not just A16. And even those who want A16 want SOME things from it and not everything (otherwise they could simply play A16, at least on PC). In effect there is no group speaking with one voice but lots of different interests. There is also nostalgia kicking in, remembering mostly the good stuff. And naturally a game is always the best when you didn't know every edge and corner of it and have played it nearly to death. A substantial part of the players who want an older version would eventually be disappointed at the specific game that came out of that endeavour I am sure.
* For TFP to invest into such an endeavour there would need to be money coming in to finance it, they are not a charity. With proper balancing you would need a handful developers and testers for say 2 years. A lot of money and you wouldn't get any from all the old players who already payed for the game and often think they deserve the version they saw when they started with the game. Eventually, when the game is really really finished they could get away with releasing a "game mode" DLC with such a game. Will there really be enough players who know about the old game still here in 2,5 years who also would accept to pay 15 bucks for a mode that was already in the game in their view?
Frankly I suspect the best chance to get what you want is a mod. IF A16 is wanted by so many people, why isn't there an A16 mod available already? LBD for example is already implemented in Darkness Falls. Yes, there are details that are very difficult or impossible to get exactly like A16 again, but you don't expect to get an exact replica anyway, right? Otherwise download and play A16.