Well, it had to happen at some point, basically everything is being remade. I thought Shadow Warrior was a pretty good reboot, but so many of the others are so bad, I don't hold much hope that this will work out. Times have changed since Blood was released, I can see it being trimmed down, PC'd, and of course the over the top shaders on everything. Still, would be happy to be proved wrong.

Words to live by.

Pretiacruento rud’minuox; crudux cruento paashaeximus!
BLOOD WILL FALL!
infuscomus pretaanluxis esco crudux shaantitus!

It isn't a surprise that more & more remakes are released nowadays; the devs see that money flows, the fans drool over random tease posts (an easy way to check out whether an idea has fans out there plus an easy way to generate hype), everyone's happy. That being said, I'd love to see a Blood remake and i'll happily purchase it if it proves to be good enough, although I'm not going to support a Kickstarter campaign.

I do not care what they do, be it a remake, a reboot or even dropping the source code, but after witnessing how the world is going from bad to worse I will take anything about now, so keep us posted Mr. CARRiON.

If this results in an Enhanced Edition of the original (in a similar vein to Duke Nukem 3D's Megaton Edition), I'm cool.
If this results in the release of the original's source code, also cool.
If this results in a remake of the game, I'll be interested, but cautious.

If it's actually any combination of the above, great.

The gameplay was rough, yes. But the game is a goldmine of cool game mechanics, themes and ideas. How many games today can you name that match its aesthetic? Cultists, ghouls, dark gods, sawed offs, napalm launchers, Tesla cannons, flare guns, the creepy deserted locations like morgues, carnivals, and dark temples, all taking place in the the year 1928. It's dark, it's funny, it's gory, it's amusing. Blood needs to come back! Caleb to this day remains my all time favorite antihero. It's not all nostalgia, it's more "this is the only thing like it".

If they release the source code or an enhanced port of their own, those rough edges can easily be smoothed out. Modding can be added, multiplayer can be re-added, and the MP was so much fun. That's the bigger picture here. That's what I'm extremely excited for at the moment.

A remake would also be welcome, but I have to wonder if they'd look for outside help. If they announced say, they're going to work with Devolver on this, then hands down it would be bad fucking ass. It they announce they're tackling it on their own, then I'll be cautiously optimistic. The details behind the remake are important. If they remade this it would need so much love and care put into it, it could easily turn into RoTT '13 (which I thought was AWFULLY designed).

If it is Devolver (and I realize you're just theorizing here), I'd be curious how they pulled off what Night Dive hadn't been able to for years: getting Atari to agree to do something with Blood. :P (Maybe it was just timing, as Atari realized their bank account had only twelve bucks in it.)

Do we know that the source code is actually still available somewhere?

Do we know the files are kept safe somewhere 100%? No. Though Jace Hall seems adamant they are.

Devolver however, has tweeted a few times about Blood, but ultimately saying it was "too expensive, not happening" and I think this might have been shortly after or before Jace's attempt to talk to Atari.

https://twitter.com/ForkParker/status/376025735334338560
https://twitter.com/devolverdigital/status/365671225319628801
https://twitter.com/ForkParker/status/458953243188416512

They have a lot of interest in doing a remake, a lot of the people in Devolver are old school so I'm sure there is more than just a few fans of Blood. They'd be an awesome choice for publishing and such, that's the only reason my mind immediately went to them :p

Assuming it was actually Atari and not Warner Bros. You know, the same Warner Bros that, for one reason or another, didn't allow Night Dive to proceed with NOLF.