Sid Meier built this one from the ground up specifically for consoles.
He took out a lot of the more indepth stuff, which is why it works so well on a console. If they had tried porting a current version of Civ, it probably would not have worked properly.
I bought it when it first came out, and you can seriously lose track of time playing a game. Many a night was spent playing it, only to look up and see the clock said 6am!