Sega AM2 is working on a sequel to OutRun, tentatively titled OutRun2, which at least clears up what Sega's most formidable R&D division has been up to lately. The game will run on Chihiro arcade hardware, which should mean an Xbox version somewhere down the line, and the first screenshots are available here. It looks jolly nice, we're sure you'll all agree.
According to our in-house translator (that's the under-appreciated Mr. Fahey - "it's waffling on about drift travelling", "it says 'suicide seat' here, I assume it means passenger seat"), the site talks about officially licensed Ferraris, and the importance of the lovely lass you choose to sit next to you. Apparently they appreciate different driving styles, and their level of interest and feedback will affect gameplay and game endings.
OutRun2 should be completed in time for this winter.