If I had $1 million to waste, here is the direction I would personally try:
Take a Stern Catacomb with some slight modifications (which I'll explain)
Smack a Jurassic Park license on there, and the storyline mimics our Raw Thrills Jurassic Park Arcade game.
Capture the dinosaurs (who are loose running around an island), and then return them to Jurassic Park safely.
Game has full HD video in the playfield and backbox. I would just pull the work we've done from our Raw assets or use movie footage.
Each of the 4 drop target banks represent a different dinosaur. Pick the most famous ones (raptors, t-rex, spitter, teradactyl). Complete the bank to light the spinner shot the 'capture' that dinosaur. Each of the drop target banks would be dressed up with a custom figure that could shake when the targets are hit, or jump up/down, or [insert something physically entertaining].
The spinner shot would divert into the saucer that is over on that side, which would be picked up by a Helicopter via a magnet (think Rescue 911). It would pick it up and move it to a ramp that will eventually feed the ball back into play for multiball which would start immediately after this happening. During multiball you have to clear the target bank of the dinosaur you captured, and then shoot the spinner shot again to safely place the dinosaur back in the park.
Center of the playfield would clearly show the dinosaurs species that have been "Captured" (starting a multiball with that species lit), and those that have been "Rescued" (scoring the jackpot during multiball with that species lit).
Mini-Wizard mode available for all Captured. Wizard mode available for all Rescued.
Throw it some other random stuff - that "Spot 2" target on the lower left can be an electric fence (magnet in front of it throws the ball anywhere, or holds it to be able to display something/start something). I'd also replace the two lanes in the upper left with a saucer (similar to Golden Cliffs on Paragon), but it has to be something physically dressed up where the player knows the ball is going into 'something' (insert visual effects/excitement for getting in that saucer) so there's an emotional response.
No extra balls available, no special, no match, no ball saver. Also, you're allowed to buy-in and continue where you left off. Not WMS buy in for 1 more ball, but insert another $1 to simply start the new game where you left off. If you want to put it in the budget to amp up the difficulty, you put the drop target banks on individually resettable coils and make players clear them left to right in order to qualify that dinosaur to be captured.
Start button on the lockdown bar, start button also plunges the ball . . . no other buttons needed besides the flipper buttons.
Full HD video, plenty of places for the ball to be held in creative ways to be entertained, physical action all over the place, the layout of the jet bumpers will help casual players complete these banks of targets just from the ball bouncing around, and you don't have to worry about the typical shot-post-shot-post of today's designs. The wide open angles allow anyone to spray the ball around, have a blast, make progress in the story line, and have some cool stuff happen via the display, loud ass speakers, magnet throwing the ball around, helicopter taking it to another place, etc.
Here's a video of it in action if you haven't played it:
Start at 5min and watch "THE BALL IS WILD" pinball at it's finest.