Hybrid Technology was developing a Mega Drive version of Elite for Sony in 1994, but Sony cancelled it. Co-developer Ian Bell released a demo of this some time ago. Apparently they continued developing it after Sony pulled out, and started developing a 32X version too, with the plan to release a dual-format MD/32X cartridge. It's a shame that never happened. From the June 1995 issue of the UK's Sega Magazine;
Interesting. This made me load up the elite MD demo rom in the "load 32x rom" function of my emulator, but nothing special happened A complete game of Elite would have been cool to have on megadrive, and probably even cooler on 32x. I love that early 3d stuff.
As i mentioned elsewhere, Hand Made Software also had Elite up and running on the I'll fated Atari Panther console, would of been interesting to see how that fared compared to MD version.