Completely start from the ground up. You have the player models, you have the mo-capped animations, and you have the stadiums.
Next year, hire a 3rd party to write the franchise mode, and just re-build the baseball game from the ground up.
MLB 2K8 sold 6.6 million dollars worth of copies for the 360 version in the first week alone. Funding the entire staff of MLB 2K8 is probably less than 2-3 million bucks. So give a million bucks to OOTP developments (instead of something stupid like a music partnership) and tell them to write the franchise mode.
Take some of the money being paid towards 2 Hall-of-Fame broadcasters, and throw it at some unknown broadcasters, who will go more in-depth and specific.
Spend the rest of the development man-hours on developing a baseball game where everyone does what they are supposed to do....make sure:
-pitchers don't face centerfield, or throw pickoff moves during the cut scenes.
-Guys don't randomly stand there with the ball while runners are circling the bases.
-Outfielders don't run into each other on every play.
-Batters don't hit 900 foot home runs to the opposite field on balls 5-inches inside.
-Guys who hit 2 home runs in a season don't act like Barry Bonds or Reggie Jackson when they hit a 389 foot home run
-Players on both teams actually strike out, walk, bunt, steal bases, hit-and-run, etc.
Come on, guys.
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