I liked Elite II loads, more than the original in fact. I wish the trading system and various missions had been more dynamic though. The new project sounds interesting; good luck to them.
I didn't actually realise there'd been an Elite III.
Limited by the time it was produced.. it is a miracle to see with what ressources programmers back then had to work to create games.. any modern cell phone has way more storage and computing power that the biggest home system you could afford in the late 80s/early 90s.
Yet we got awesome games we could spend dozens of hours with, sometimes even more.
I am so looking forward to this if it gets made (and i'm pretty sure the Kickstarter will be a success).. together with the ressurection of Wing Commander by Chris Robert's i'm one happy gamer right now.