They're aiming for a mid 2014 release. Will be on Wii U, PC, Mac, Linux, iOS, and Android. No Xbox/PS conversions for whatever reason although I personally think the 360's gamepad is particularly well suited for arcade racers like Daytona USA. I suspect if it does well though, that is subject to change later on.
https://www.kickstarter.com/projects/896834116/the-90s-arcade-racer
[video]http://youtu.be/bywfy_hcq_s[/video]
Likely will be my first non Virtual Console Wii U eShop purchase.