You are correct on the SDK, the guy had to do a bit of hacking to get it to boot. The SDK can built CD isos and EX files but you don't have to use the 3d libraries though it doesn't help that the whole documentation for the kit in japanese.
You could say that, on my 2nd point, if it was totally incompatible, nothing would work
Everything works except the display so it's little difficult to play in the dark.