I'm aware of much of the in-name-only sequels/relatives, but I want a next gen LotW game. Popful Mail is the closest gameplay-wise.
Ahh, ok. I can understand that, especially since that is my favorite Dragon Slayer game and wish there were other ones like it. I've thought of ideas a few times for making a sequel or similar game but never acted on it because I don't want to screw it all up and make a mess.
The thing I liked most about the game is the sheer amount of exploring and experimenting you have to do. It presents itself like an actiony game where most people assume "hey, pick someone and beat the boss! Right?!"
Then they pick Royas, run through and quickly realize "Hey, what am I supposed to be doing, I went everywhere this guy can go and didn't beat the level!". There are no levels!
I still have maps/doodles I made while playing the game with little marks indicating who can go where.
Nearly every screen can be treated as if it were a puzzle. If you don't try everything, you won't make it!
The only other game like it is Maze of Galious on the MSX, and a homebrew MSX game called Caos Begins is also semi similar (a bit more Castlevanialike).