Ok, after learning Waterworld was completely finished for the Saturn (but unreleased), I contacted one of the Ocean programmers. Here is his response:
"Hi Kent,
It does exist! I really like playing it, but I'm kind of biased towards it
I may be wrong about this, but I think the problem will be getting the OK from Universal, or who ever owns the rights to any WaterWorld products.
I would really like to have the game out there and be playable on emulators or what ever. I think people would love the game. I'm just thinking back and there were only three of us working on that game from start to finish.
If you've got any legal ideas on how to make this game available to the masses, I'd love to hear it!
Cheers,
Steve Woita
Senior Game Designer / Producer / Developer
Eat Donuts, play DunkIt 2 at:
http://www.tinygames.com"
If anyone has some helpful ideas about getting this released, please post!!