Oratan has made the leap onto Xbox Live Arcade. Specifically MSBS 5.66, which was the final arcade iteration of the game (and arguably the best). This port will also feature full online versus but there is an elephant in the room in terms of the control input.
The original Dreamcast port afforded a twinstick peripheral, allowing you to play the game with the same response time as in the arcade. Bear in mind that these were digital microswitched sticks, and the leverage of the stick itself negated almost any deadzone. This resulted in a game that had pinpoint precision in terms of its control input. Unsurprisingly, a lot of the more basic elements of the game were lost on a pad as consequence.
The Dreamcast version was MSBS 5.45, 5.66 never saw a real home conversion (the hacked customize disc doesn't count here, as the arcade version was still very different in lots of ways) and was only balanced against the sticks. Considering the increase in speed over the previous iterations, I'm really not sure how this will work on a pad. Marz and the recent SEGA AGES port run at a slower pace compared to Oratan, which was always the more reflex-based game in the series, and neither of those worked very well on a pad either.
The game will be out in April and cost 1200 Microsoft points. There's a nice trailer here in case you're curious.