The Shadow of the Colossus remake doesn't look like it is messing around. Often with these projects that reopen a classic game and bring it up to new hardware, it's just a up-rez and a bump to 60 fps. That doesn't seem to be the case for the new remake of Team Ico's classic.
To illustrate that, Sony has put out this new video showing the new opening. This commentated by Bluepoint Games' Mark Skelton, Marco Thrush and Peter Dalton, and it shows off just how much work has gone into this. This looks like a top to bottom rework of the original, with large portions of this looking really beautiful. The commentary is a nice touch too as we can see why some of the changes have been made.
Of course, this is just a cutscene, and it remains to be seen just how much work will be in the moment to moment gameplay, but everything we've seen so far is really promising. I really do believe Shadow of the Colossus is one of the true greats and to see it get a real, top to bottom facelift worth its salt would certainly be exciting.