Well...
First off, I've seen too many occasions where the sequel to a movie or game is produced simply to profit off of the sucess of the original, but only sucked so bad that it actually devalued the first, good one to say I trust this enterprise. And THAT was a rambling sentence.
Anyway, I'd say Derelict needs no direct sequel. Make a campaign like it, sure, but just DON'T claim it's Derelict revisited, because no matter how good you are (and odds are you aren't quite that good), it won't be. Stylistic differences, you see.
I'd also note that you'd be in for a time trying to get a new campaign launched these days, as we already have...
[counts forums]
...er... more than a dozen, I'd say, and that's just hosted here. Doesn't account for independent runs like BWO, the Bab5 TC, and the Archon campaign. Modders and FREDders are stretched quite thin, and it's getting thinner all the time. If you plan on getting a campaign done, you'd better expect to be doing most of it on your own like me, and thus taking more than twice even your most pessemistic deadline.