Just to add some flesh to this; a graphical rework of oldschool started at the beginning of this year with a revision on our asset production pipeline and a consolidation of the art currently existing in game. This focused on getting the most out of the artstyle as is. The recent AKD expansion highlights the fruits of that work. Enhanced OSRS graphics doesn't just mean 'it looks better' but just as importantly it should 'read better', causing less eyestrain, fatigue and providing more clarity to the player. This is achieved with good colour theory, contrast control etc..
Now the latter stage, the introduction of new tech, new rendering engines etc; that's going to take some time to implement in the right way. Ideally we'll be making something beautiful and effective without any of that, and I think the Shayzien rework stands as that benchmark. Any sugar we sprinkle over the top of that groundwork in the form of lighting/shadows etc will be added to support and enhance what's already there. We don't want to just throw a modern rendering engine at the problem and call it done. It's got to be true to the tone and feel of oldschool.
This will take some time! But improvements and updates will be given throughout the process.
Thanks for your thoughts and enthusiasm! I'm easy to reach in twitter if you've any questions, or reply to this and I'll do my best to reply where I get a moment. :)