The game is being completely rebuilt using the Unity engine (not sure which build) and it's looking pretty damn good for pre-alpha. I never played the original or System Shock 2, but seeing as they were inspiration for Ken Levine's (who actually worked on System Shock 2) Bioshock, I'll definitely give a try.
The developers have also released a playable demo for everyone to try regardless of whether you decide to back the game or not (available via GOG, Steam and HumbleBundle). I'm hoping their Kickstarter campaign does well and that future developers follow this same method.
Click here to check out their Kickstarter and click the pic to check out the Kickstarter trailer.