I think you'll find that the only way to make money with Open Source software is to offer some sort of service along with it. This works with BUSINESS software since businesses need support with things like new file formats and hardware compatibility problems. Gamers are nearly identical with hackers and would gladly take the source and hack away for themselves rather than ask someone else for help. So, an open source game is basicaly a non-profit game.
You might be able to persuade him to release the source to SE II, though. It's long obsolete and the source was Visual Basic, not Delphi. So, it's probably got no real relation to SE III and IV.