Not saying Bungie would ever have the time or interest in re-writing all of that codec stuff, so that this could be a possibility or anything - I'm just saying I would spend 400-1200 ms points on a Halo 2 Multiplayer Arcade release.
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I had this idea a while ago. Hopefully, the only thing they'll change is improving voice. Halo 2 just wouldn't feel like Halo 2 with good graphics.