Was just watching latest James & Mike Monday and found out about Power Punch II.
Looking at it, I think it might be worth it to hack the game into a proper sequel to Punch Out or maybe even a prequel.
From looking at the game play it seems like they overly complicated it and lost what makes Punch Out fun. So the main focus of a hack, I think, should be to simplify the AI and make it much closer to the original.
The music could use an overhaul, too.
If it was made into a prequel Mark Tyler could be replaced with Doc Louis and the story could explain why the pudgy guy was such a great boxer given he was up against crazy alien opponents.