Rare & Nintendo released its sequel in 1996. The graphics were downgraded, among other things, but the infamous combo system was boosted to make it all the more entertaining.
The first KI was originally going to be released for the Ultra 64, but instead it was released for the Super Nintendo on August 30th, 1995. The reviews of that game were decent; the game wasn't much of an arcade replica but all the gameplay elements managed to get fit in. Killer Instinct 2 was released for the Nintendo 64, under the title "Killer Instinct Gold". It had some slight downgrades but once again all the gameplay elements were fit in.