The 20th anniversary of the release of "Gabriel Knight: Sins of the Fathers" is coming up in 2013, and that seems to me like the perfect opportunity to revive the franchise and bring back to life the incredibly rich story that Jane Jensen created in 1993.
Telltale is going big into development for the iPad, and GK1 is perfect for that medium, with its visual style that borrows from graphic novels and film noir. They could do a remake of the original, preserving the story, art, and voices as much as possible, but upgrading them to today's technology.
If successful, they could go on to remake GK2: The Beast Within, and GK3: Blood of the Sacred, Blood of the Damned; two other games with incredibly deep and complex stories and puzzles, though suffering from some of the technological shortcomings of the time in which they were made. Fans have also been petitioning for a Gabriel Knight 4 for a while, and Telltale working with Jane Jensen on such an endeavor would be a dream come true.
The Gabriel Knight series would be one of the most dark and brooding narratives for Telltale to adopt, and considering they are taking on The Walking Dead franchise, it seems propitious for them to expand in that direction. Additionally, with their acquisition of rights to make a sequel to the King's Quest series (also from Sierra), it seems they would be in a good position to negotiate the rights to work on Gabriel Knight.
What do you guys think? I would love to hear from one of Telltale's people on this. (For anyone interested, I've written more extensively about this here: http://www.luisdechtiar.net/2011/11/gabriel-knight-remastered/)