Before I comment I must stress again that everything in this thread is hypothetical. I'm just stating what I believe is most likely to happen based on the limited knowledge I have. If we got a serious offer, we (Conitec) would invest the time and energy to get real numbers.

That said, who owns the ported engine after we build it depends on how you negotiate the contract with us. For enough money (and, no, don't ask me how much because I'm in no position to estimate it) you could own all rights to the engine. But you would get a much better deal if you negotiated something less strict. I'm guessing that that price would be less then most console 3D engines, so your publisher could still view it as a bargain.

You should also know that, even if we create a XBox/PS2/PSP/etc. version of the engine we would have an extremely limited market to sell this to. You need to be a licensed developer with Microsoft/Nintendo/Sony to develop for their hardware. We couldn't just “hand it over” to the community. In fact, it is this restriction that keeps us from making the port in the first place.