I knew to expect a big reaction, but thanks for all the personal congratulations too!
I figure I should circle back around to clarify some of the things that people online seem most curious about. This is all from public sources, not any kind of insider info.
The circle "Shanghai Alice Reprise" formed for this project consists of ZUN and some of his usual collaborators like his wife Kii-san, Jyunya and Curee from AQUASTYLE, and Unabara Iruka from Twilight Frontier, plus some other staff. There is some vague hope of continuing with the remasters in the future. New Touhou games are still going to be done by Team Shanghai Alice i.e. ZUN with some help, just like before. Nothing has changed in terms of the fanwork guidelines either, he wanted to clarify, I guess because there's a new circle involved and all.
Contrary to what I kinda vaguely said, the art is done by other people like Curee (close redraws of ZUN's old art), Jyunya (enemy sprites) and Kii-san (player sprites). The coding is being handled by other people like Jyunya recreating ZUN's old game in a newer engine.
The music is all redone by ZUN himself. It has wider instrumentation and better audio quality, obviously, but I'd say it's still pretty close to the original rather than e.g. some attempt to make "2026-style versions" that'd sound like they came out of FW. I'm not a music person, though.
While the others talked ZUN into this project, it isn't just something he gave his blessing, he is closely personally involved with it. In his own words, until now he's been very busy just making all the music, but now comes the part where he needs to check other people's work and nitpick everything he wants changed (mostly joking). They've had a very tight schedule coming up on this announcement, and still a lot to do in the three months before release.
The release includes both the new version and a close recreation of the 2002 original, down to lacking quality of life features that the new version adds in. (screenshot source)
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