I have some idea concerned with Neo-Geo BOR Engine - not so long time ago I told about the Tomahomae's idea to create his own beat'em-up! in Mameworld forum - originally it was just Cadillacs'n'Dinosaurs global modhack idea only, but later he decided to change it because of lack of somebody who can hack the CPS1 graphics (beyond the color palettes).
Now he going to realize his idea as an absolutely new homebrew game already, for the NG at this time. And it seems to use a NG BOR engine for this is a best idea.

But the C&D disassembled code would all the same need - for reverse engineering. This, in its turn, are necessary to borrow the C&D physics, combat system, enemies AI and characteristics, control responsiveness - and many other play mechanic details which made C&D so good game.