If we were going non-licensed, an 80's outrun themed machine (the outrun music aesthetic, not the video game). Have UV reactive playfield as well as plastics and use UV LED's for the GI. Use those ceramic powerballs with a UV reactive colour too so it shows up. Maybe do some part of the playfield with a flatscreen to simulate a vector graphic road in motion which is common with the outrun theme. It would be pretty sharp in a dimly lit room.
For a music licensed pin, I'd like to see something a little different from the normal rock bands. Depeche Mode would be my vote since they fit in well with the arcade era.
For a movie theme, The Dark Crystal would be a neat one as you could have some Henson styled creatures animating around the playfield. It would be a fairly relevant one right now too since they brought it back as a TV show.