Oh this is great news! Japanese shooter developer Treasure wants to do Live Arcade games, and not only ports but also original content.

1UP: Will it be a retail game or are you thinking it could be a downloadable title?
MM: I can’t really say since we still need to figure out the business strategy with the publisher, but we’re definitely thinking of this being a retail title. We actually want to do something else for Live Arcade, too. Personally, I’m really interested in Live Arcade, and I really want to do something for it - but it depends on whether it’ll make sense to do another completely original project just for that.

1UP: Speaking of online services, Gunstar Heroes recently released on the Virtual Console. Are we going to see more Treasure titles on there soon?
MM: There are four of our Genesis titles that are legally OK to release on the Virtual Console now, so it’s probably just a matter of time. We’re also considering putting them on Live Arcade.

Treasure is the developer behind Nintendo 64/Dreamcast classic Bangai-O, the wonderful Ikaruga, Sin & Punishment and Gunstar Heroes - just to name a few. It’s a small developer with huge cred in the shoot ‘em up scene. If they’re considering original content for Live Arcade then that’s great, but I’ll settle for their classics as well.

Read the entire interview with Treasure president Masato Maegawa over at 1UP.