I can't wait for Mega Man 1 or 2 to get the same treatment 
Funny you'd say that. I worked on the idea a bit and decided if I were to do so, I'd have to restructure the sprite tiles and that's above me. I'd love to take the in-game art style to that of something like Shatterhand, Kabuki Quantum Fighter, or Power Blade 2. The main difference is that I would go with a daytime color palette. It would require taller, narrower sprites though.
However, I did mull around the idea of redesigning the megaman 1 art to coincide with the Captain N
design and put together the following sprite:

I'd planned on doing a complete graphics rehaul and stick with vibrant, colored outlines instead of black outlines. The problem is that to truly do original sprites, I would have to change the x,y coordinates of the face sprite in relation to the body at the very least... and I believe the Megaman games only store new palette data for two colors for his sprite, and the black outline stays the same... two hurdles I felt kept it from being worth doing, so all I have is the above sprite and some palettes I worked out for it.
Starting from the top left would have been:
normal, ice, fire, elec, guts, cut, bomb, item
heat, air, flash, wood, bubble, clash, metal, quick
Anyways, following are some updates for Ruckus. I've found the sprite data, so I've been able to reassign some tiles to expand animation, but there're some that I won't be able to. For example, the bandit uses the same bottom tiles (legs) for running down and up, so it means when running upward, his hands and legs don't move correctly (left arm and left foot both go back together instead of opposing each other). Small annoyance. The animation speed is high and the enemies run down more than up, so it's not really that noticeable in the game. Also, here's a revised Mayor, the horseshoe (main weapon) and some items.

I've opted for the 1-cent piece and the highlight on the side as opposed to the 5-cent piece... and the beer bottle (was trying for something more clearly "whiskey," but settled for this) is used for a speed upgrade.
EDIT:

May or may not change him up. Dude sitting at a table making and throwing burritos.