You want to remake an old abandonware game that no one likes, using the same assets.
Yep, you should definitely go for it.

There's been plenty of remakes of games made with AGS, a few of which were made using assets from the original, but usually edited (such as Maniac Mansion Deluxe, which had more colours added). At least you know this game won't get a cease and desist.
And like Mandle says, the experience you'll get from it will be invaluable.
Although I'm slightly offended that you called a game from 1996 a very old game. I was born two years prior!
