It's been almost 20 years since the Amiga classic (very similar to Alien Syndrome arcade). Team 17 almost released a title called "Alien Breed: Evolution", this year, then decided to postpone and improve it and release it later this summer under the new title "Alien Breed: Impact". It will be available for $15 on Steam for PC or as a download for PS3.
It looks pretty cool (I was a fan of the original, and I like shooters). The controls are a combo of mouse + keys, and they claim it works well. I wonder how it would feel mapping that to a joystick plus trackball. If it plays well on a cabinet, I'll get it (maybe they should make a 2 joystick version)