While today's gaming landscape is a bit different with hundreds of millions of pc's are running windows, it'd be a quick boon at getting a product out there and promoting the pinball scene (a bit cheeky for other gaming devs but I digress..).. Since it's been a few years, why not reach out to the Microsoft team once more and see what they have to say?
Alternatively, in a potentially smaller yet equally good view, Space Commander Pinball sounds like a great sequel which may not have the legal hurdles currently faced with Cadet. A potential follow-up could be Space Admiral Pinball, allowing the audience to follow through with a full career within the Pinball Space Force.
Whichever route you take, I wish you the best of luck and success! If you ever need to bounce ideas off of, it would be nice to keep in touch.
-X
My Cinematronics co-founders and I do not own the rights to any of the games we created. Cinematronics was acquired by Maxis, and Maxis was later acquired by Electronic Arts (who are being acquired, as well.) The rights would have to be untangled which was, I suspect, part of the hesitation Microsoft had in moving forward.