This December marks the 20th anniversary of Phantasy Star for the Sega Master System. To celebrate, Sega is holding an illustration contest for Blue Burst and Phantasy Star Universe. The winning illustrations will be displayed on Sega's site and in the games. More information is available from Sega of Japan's anniversary web site. Check it out to see the new character art on the site's background, at least!
Also, here's an update on the upcoming Sega Ages 2500 compilation title, Phantasy Star I・II・III・IV. There isn't much news about this still. Once, there was an advertisement for it on the Generation 2 web site. That has disappeared, however, other pages on Sega of Japan's web site still list the compilation as having a winter release.