I honestly think that'd be super sick, someone should totally do something like this!
Glad you liked the idea. We must remember that good old RPG classics, were mostly based on the narrative magic created by interactive dialogue, as well as distinct visual style, accompanied by proper soundtrack and soundscape. In other terms, these games, had soul, they had unique identity. They offered something to explore. For the mechanics, I think it plays secondary role, but certainly it must not be flawed.