Exult is breathing life back into Ultima VII: The Black Gate and Part II : The Serpent Isle. They've built an engine that will run the game under modern OS's with lots of extra options. The latest version is about a meg and you will need the original Ultima 7 game.

As I have posted before there are heaps of Ultima revamps in progress, and I've been visiting Ultima: The Reconstruction to keep a tab on them all. Can't wait for these to be finished :)