Against.
I appreciate what Suzuki was doing with the game but it wound up being very boring and repetitive. The voice acting and the dialog was somewhat grating at times and when it is a game like Shenmue, that means a lot more than the grating voice acting and writing of Sonic Adventure. Another downside is that it aged quickly as within a couple of years, there were a lot of big box games that did the job better than Shenmue I and II. I wonder if the technical limitations held back Shenmue a lot more than people think. If games like State of Emergency and Grand Theft Auto III (not the best examples but hey...) were more wide open and had more thing to do and were released in a short time without the massive budget, I think that if Shenmue were released on the PS2 or Xbox at the very beginning, the game would have been a lot different.
Never really played it after I beat it several years ago but even picking it up for a bargain bin price at EB, it still felt aged. The biggest downfall was that the game aged way too fast, which was unfortunate, given the vision and the budget allotted towards this game.
Never got Shenmue II in spite of seeing the Xbox version go for $5 several times.
If there would be a Shenmue III, it would have to be an entirely different game than the first two. The bar has risen considerably since then, especially for "sandbox" games. It would probably be too expensive so I understand if it never actually happens.