Yes, I was thinking either what you suggested or everything being remade (different cast, new audio, etc). I think I would prefer to see what you had in mind. Hopefully one day there will be a second special edition as well as a theatrical edition, with no changes.
As a “Prequel Kid” who grew up with them (and I literally never watched Star Wars anymore before my son grew an interest) I would love to watch a Remake of the OT some time. But it will guranteed never happen - at least not without the blessing of George Lucas himself. What a way to piss on his work (although, they kinda already did with the Sequels).
Nevertheless, If i can make A New Hope feel like a modernized adventure for all viewers and lovers of the Prequel and OT trilogies, it will certainly fulfill me when I binge Prequels and OT chronologically.
Update:
Also, can we all just admire ArtIsDead (fanedit.org) for making this beautiful cover art for my edit:
