I have made some good progress. I have finished editing out any Japanese images from the status and battle graphics. It was quite painful, with all due honesty. I have not been able to obtain the GIMP plug-in from Orakio_Rob, so I did it using hex editing and Adobe Photoshop to do what I could. You will notice that the ATT, DEF, etc. are customized: due to a 4x4 limit and the game graphics chip hating any shrinking or ant-aliasing, coupled with a strange use of three de-interlaced channels with varying RGB/luminosity and bit shifting...this was the best my non-programming self could come up with.
I decided to insert all the decompressed Japanese dialog in before translating through the game. The reason is that I want to play through the game and change things as I progress. Since the dialog is non-linear within the data file, encoding this way will help ensure continuity and if I miss anything along the way.
I finally decided to make a Youtube video explaining and showing what I've done so far. I muted the game music in it, but I will not be talking in any future videos I put up.
http://www.youtube.com/watch?v=j5mJDcw2-BgSo, spread the word to any other PS-related sites or communities around if you like.
Thanks again for all the well-wishes!