If they were to re-release a game and not change a thing except update graphics...

[Kagatob]

...fix obvious bugs and dialog errors, and I suppose add network support in split-screen multiplayer games.

Lots of games have been remade/updated but it's more often miss rather than hit. Aside from the remake of the first Resident Evil, I don't know of a single one that's been critically acclaimed.

Which game would you choose?

Final Fantasy VII is the obvious choice but I want to try to be original here.

Twisted Metal 2. Can't even put my finger on what's so great about that game as I'm not even a gigantic fan of the franchise, but I loved part 2 so much, I'd love to see that particular game remade.