Mechwarrior 1 wasn't a very good game at all.
Few games that old could be classified as "good" by most standards. However, as a mercenary game, it still had the best mechanics. No other game since actually had you freely piloting a dropship and actually negotiating contracts. MW4: Mercs kinda got one foot in the door there by giving you options of which missions you took when but it wasn't quite there.
Now speaking of the new game, I sort of doubt that it will be a full blown simulation. I'm sure the basics and MW essentials will be there but I think it won't have the same feel. I guess we'll see. Either way, a new MW game is better than none, even if it's not all we hope for.