Outstanding article. MVP Baseball 2005's classic stadiums was one of my favorite aspects of the game itself. I used to use Tiger Stadium as current Detroit's default ballpark. Cranking a shot into the upper deck was immensely satisfying.
For those who do not recall, in addition to Tiger Stadium, MVP 2005 also offered 14 other classic stadiums (referenced here, under unlockables:
http://www.ign.com/cheats/games/mvp-baseball-ps2-713817). EA also provided a very thorough retro uniform selection.
Baseball's nostalgia is wonderful, and perhaps superior to each of the other major sports, but I think they all have their own respective draws as well. NBA 2K12's Legends mode, with classic rosters, courts, filters, graphics, shorts, jerseys, and audio was top of the line and quite engrossing.
I must admit my ignorance in this category, but for a number of years now I've been actively trying to figure out exactly how acquiring classic rights works. For NBA players, it seems I've heard of superstars being negotiated with individually (Charles Barkley, Kareem Abdul-Jabbar, etc.) but then I feel as though I've heard players who were a part of the NBA's retired players association could possibly have their rights negotiated upon en masse.
Either way, I do believe acquiring the rights of classic Major League teams would be much more difficult, if only because the rosters themselves are much more plentiful. NBA 2K could acquire the rights of 7-8 key players on a 12 man roster and count of gamers to fill in the remaining blanks if they wished. A Major League roster obviously has many more players and would seem to make it much more difficult to field a realistic classic team.