The best replacement for 8086 is 8088.

The best alternatives to 8086 are rated as following:
★★★★★  8088
★★★  8051
★★★  68000
★★  8085
★  8088 microprocessor
★  motorola 68k
★  motorola 68000
  instruction

Your alternative for 8086 is not listed? Suggest!
Speaking about 8086, one probably shouldn't forget about 8255.

Other search terms related to 8086 and their ratings are:
★★★★★ 8255
★★★★ 8259
★★★★ 8279
★★★ 8251
★★★ 8254
★★★ ram and rom
★★ 8087
★★ semiconductor memory
★ 8237
★ stepper motor interface
8257
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