The latest area in the game, "Oasis Town".
Water Melon Development, the team behind Mega Drive RPG Pier Solar, have said that the game may see a future Xbox Live Arcade release.
They have told C+VG that "the door is open for a re-release or perhaps a remake on the current generation of consoles, when the Mega Drive/Mega CD version is finished".
It seems that there has always been the possibility of a current-gen release: "we've been looking at XBLA since Microsoft opened up to XNA games and it's a definite possibility in the future. At present though, we're looking forward to the completion and release of the Mega Drive version, so that we can then start planning for new games. A next-gen port of Pier Solar (or maybe even its sequel) is definitely on the list of things to do."
I think the game in its present form would be good enough to release on XBLA, especially since Mega Man 9 was released with retro graphics. What's funny is that C+VG can't comprehend that people still release games for old consoles, describing Water Melon as a "team of crazies". Nice!
You can see the game's website here, and my recent news post here.