I don't think there would be any licensing involved-
since the game is basically obsolete- and the company isn't making money off
of it, or am I wrong here? That's my main point- if I made a game similar to
this, would I be conflicting with licensing or some such?
End quote

Yes, you could be conflicting with the original authors if your game was 
exactly like the original product. The fact it is obsolete and the 
company isn't making or selling it any more does not make it public 
domain material. it is still guarded under U.S. copyright law.
The thing to keep in mind that a copyright can be held for a person's or 
company's entire lifetime, and may be renewed by any surviving 
relatives. What that means for people like you and I we will not live 
long enough to see the copyrights run out on something we enjoy, and 
there is usually between 100 to 150 years before a copyright falls into 
the public domain.
That is what happened with me and Montezuma's Revenge. The product is 24 
years old, it isn't being sold, and who really cares? Well, legally I am 
in the wrong, because according to U.S. copyright law they might not 
release the copyright into the public domain until 2084. That is another 
76 years away, and I will be too old to care by then.

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