VGOEmulator.net

If you have gotten together a team that has the skill to fix a giant pain in the ass like Vanguard, and have to work within all of the legal parameters- can't change this and modify that, why not just make your own game?

It's a completely different skill set and set of interests.

While some of the client's code would be similar to the Server's (Net code for example), the client is a more visual representation of what's going on. Using a 3D Engine to handle rendering, game loop, physics, you still need the design Assets, the world itself, story, gameplay system (combat, minigames, etc), music/sound effects, and likely more.

It's a lot of work developing the client, mores so than the server. Take a look at Planeshift. It is, from the ground up, developed open source. The only thing they did not do themselves was the 3D Engine (Crystal Space), and yet they've heavily modified it. I can't recall when it started, but it's barely enjoyable (just something you have to appreciate) after all this time, and they have a lot of talented programmers/content people.