An aspiring animator by the name of Mitchell Hammond is currently working on an animated short based on the original Metal Gear on MSX. A few days ago he posted a work in progress video showing (there’s no sound yet). [Update: video removed, but there are some other ones at the bottom of the article.]
Hammond started the project in December of 2014 but can only work on it in his spare time. The style and attention to detail are awesome though.
Here are some screenshots that show the creation of one of the animation’s backgrounds.
And here’s another shot in the making, of Solid Snake himself.
And here are some more images with comments by Mitchell himself.
For reference, here’s a screen of the original game from 1987 on MSX. You can see that the animation is hitting the right notes in terms of color palette and overall feel.
When finished, the full thing is planned to be somewhere under 4 minutes long. If you want to support the project be sure to check out the Patreon page.