I'm creating a new RPG, Tinsdalia:
The RPG has a combat system based off of Final Fantasy I. The storyline is actually a series of smaller somewhat sequential stories taking place in different towns in which the player travels to.
Originally I was intending to stay within a 3 color per icon limit, but I decided I'd just use a similar rule, to have a simplistic, yet not exactly 8-bit feel.
It makes it very easy to produce sprites in decent time, so the asset-making part of the game won't be too overbearing.