Tengai Makyou Fuun Kabuki Den also has all of the extensive voice acting duplicated in the dialogue window.
AFAIK, at this point, "Tom" over at romhacking.net is the Tengai Makyou expert, and has already expressed his desire to translate all of the TM games on the PCE ... eventually. It doesn't seem to make much sense (to me) to just do one of the games, so he's the guy to watch.
If you don't hang out over there, you might not know that his TM Zero translation is finally finished and being beta-tested now, thanks to the involvement of a whole bunch of veteran SNES hackers joining forces and deciding to just make-it-happen.
Tom has apparently been slowly working on Ziria for years with EsperKnight, which doesn't exactly lead me to expect that much will happen on that project in the foreseeable future, without a similar kind of "intervention" at some point. But perhaps I'm wrong.