I've never seen or heard of Legacy or Rebirth until now, don't really keep up on web-only stuff much. Anyway, it seems really cool.
Something I think would be cool, but I know won't happen is to somehow make this tie into and be a sequel to the series Mortal Kombat Konquest which ended on a cliffhanger when it was cancelled. I know probably no one liked that show, but I did anyway.