Good news, old-schoolers! Yesterday Sega announced an Oct. 12 release date for the XBLA version of Guardian Heroes, a critically acclaimed action-RPG for the Sega Saturn. Original developer Treasure (of Ikaruga and Bangai-O HD fame) is upgrading the graphics to "fully re-mastered HD" and has added 12-person multiplayer over Xbox Live. The magic price: 800 Microsoft Points ($10).

According to the Sega Blog: "Guardian Heroes isn’t just about beating up bad guys, with a storyline full of twists and turns players will enjoy one of five completely unique boss fights, as well as more than half a dozen possible endings. To showcase the potential ways players can punch, kick, chop and stab and their way through Guardian Heroes, SEGA and Treasure have released a new gameplay trailer."

While you wipe the drool off your lips, check out that trailer below!