To elaborate - the graphics are redrawn and the voices are rerecorded, and I'm told there's some kind of expanding to the story, but at its heart it's the fourth version of the same game (Silver Star, Silver Star Story Complete, and Legend being the earlier three). It even uses the same FMVs as the PS2 version.
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JonthePenguin
http://www.backloggery.com/main.php?user=erunion