As re-releases and updates to classic games are released almost weekly, we can see that nostalgia gaming is becoming a big part of the gaming market. Like old TV shows being put out on DVD, releasing old games can be a way for a company to take advantage of existing Intellectual Property. Sega, now only a software producer, is probably the largest player in this market currently, and will be releasing a collection for the PlayStation 2 and PSP this November entitled the Genesis Collection. Joystiq's Robert Summa has seen an early copy and gives some of the details.

Not all of the 28 games included -- there will also be an additional three to unlock -- have been officially announced, but here are a few that were on the version I saw: Shinobi II; Sonic the Hedgehog; Golden Axe I, II, and III; Virtua Fighter 2; Altered Beast; Ecco the Dolphin; Phantasy Star

Nintendo has already announced that Genesis games will be playable on the Wii this fall through the virtual console, but they haven't given any pricing or title lists. This reporter played Sonic the Hedgehog, and was quite impressed with the feel and look. If Sega is releasing this collection for less than $1 a game (on average), this might start to give us an indication of the price range on the Wii.

Relive your Genesis days this November [Joystiq]