I don't know if a proper Star Control sequel is still being planned...but I would sell my entire family tree for something that looked like THIS:
http://www.infinity-universe.com/Infinity/index.php?option=com_content&task=view&id=113Itemid=93
Man, oh man....can you imagine how awesome planetary exploration and mineral harvesting would look with this type of engine?
And I can imagine the possibilities...melee combat in the rings of a planet? Yummy...