Sonic is dead in my book. The only games I really play anymore have been Sonic Rush on the DS. Every 3D game I've tried, even the ones most seem to tell me are "good" all have either bad control or make me motion sick because of the spastic camera.
The closest thing I've found to a 3D "Sonic like" game complete with the speed has been Mirror's Edge. Even then, they did throw in the gun play that slowed it down slightly, but overall, that's been the biggest burst of speed and puzzle jumping I've seen in a while.
Sonic, in the Genesis days, was not all-out left to right in all levels. It got challenging at times.