Just think, the Electron and the Beeb could handle Elite. Now, think what a modern computer could handle given its capacity. I hate to mention it but Karma probably gave us in insight into the possibilities. Game running in real time so that when you play at, say, 5pm you always come across a transport ship travelling from a moon to a planet. Scan for lifeforms and find people on board. Miners travelling back home after working all day on the moon.
Just look at the diversity of Ultima Online and similar games. Now apply that to Elite. Now, that would be fun