So a friend of mine is working on a Mugen rework fighting game featuring NES characters, NES like graphics, and NES music. The controls are also limited to like 2-3 buttons. If you are interested in trying out the beta he has up go over to this link here and see if you like it. There's only a couple of guys programmed yet so don't get your hopes up. - Famicom Fighters
At first I thought it was going to be kind of unfun because I don't really like Mugen but it's shaping up pretty well since he's trying to make it as original as he can.
He also has a deviantart page too - DeviantArt