This is the Adventure of Link voxel image I mentioned last month. As before the process has stayed the same: Most of the modeling was done in Qubicle Constructor. Lighting and rendering in 3ds Max. Post processing in Photoshop.
I added the health bars and HUD to make it seem more like a screen shot of the game instead of an illustration. I think I just prefer the nostalgic feeling it gives me when it looks like a game
Nintendo did a few remakes of old NES games in 3d called "3d classics". Unfortunately none of the big titles received such remakes.