Someone modified one to add a flywheel and did a single motor version with PS/3. Given the size and traction, I think two-wheel drive would be problematic for this locomotive.
I have a couple of them with TMCC, the one I used as a demonstrator for the then-new ERR Cruise Commander Lite prototype board. I went somewhat "over the top" with the lighting. I also added weight wherever I could to give it more traction. Finally, I got rid of the traction tire as when you run over insulated tracks, one wheel wasn't enough for reliable operation, the traction tire had to go.
Here's the thread where I detailed the mods to upgrade the BEEP.
Cruise Commander Lite Beta Test, Part Deux