Suikoden II should have probably had a New Game Plus. Between the time-sensitive Clive quest, the branching endings, and the gruelling decisions over which monsters to recruit, there are a lot of reasons to replay the game. And, as it turns out, a replay-friendly feature might've actually been in the works.
More than 18 years after the original launch of Suikoden II, players have discovered some hidden dialogue in a disassembled version of the game. The dialogue, which may be linked to an unused dungeon that fans discovered hidden inside of Sajah Village toward the end of the game, hints at a canonical New Game Plus mode. Here's an excerpt, as discovered and translated by Suikosource user ne_ya (h/t Omnigamer):
"One in search of a new path - I shall test your will."
"I am the Rune of Circulating Paths. Do you wish for a new path?"
- "New path?"
"While your strength remains, the new path shall guide you to a new beginning. Though be warned that there is no return path. Do you still wish for a new path?"
- "Wait a minute"
- "What new path?"
"You will lose your current path, lose all allies and friends that joined you, and you will even lose the outcome. Do you still choose to follow the new path?"
- "Rather not"
- "What new path?"
"The world has a million forms, not identical, but not alien. The path you have followed can once again be followed in another world. While your strength remains, the path will be a new beginning. Too many seek that path. Do you seek it also?"
And so on. The theory, as laid out by Omnigamer, is that choosing to go down this path would send you way back to the Sindar Ruins near the White Deer Inn, where you'd get to carry over all your runes and equipment for a brand new playthrough. Maybe this time you could pick Valeria or let Ridley die.
A cut New Game Plus mode helps clear up a couple of things. There are several items you can only get in the epilogue, after you've beaten the final boss, when there's no reason to have them. Sajah Village also sells high-level runes in the epilogue, which signals that maybe Suikoden II's developers had grander plans. Omnigamer theorizes that maybe with a New Game Plus you could choose to accept the Black Sword Rune instead of Bright Shield, but that seems like it'd have too many cascading plot effects to be a realistic possibility.
It's an exciting discovery that also bums me out, since Suikoden II will never get the HD remake it deserves. We'd reach out to Konami to see if they can help clear things up, but, uh, you know.