Microsoft tried that with aoe2hd, start with the original source code, and it's been worse than the original since release.
Could you elaborate on things you found worse in AoE2 HD vs the original?
I've never played the original, but I'm a huge fan of the HD release and all of it expansions.
It's laggier and has desync issues. Not just me but commonly experienced by streamers I watch and frequently discussed on /r/aoe2. Voobly has a much better experience. Worth checking out, particularly if you're any good.