Hey, Rai here. A couple of months ago, I started working on Ganbare Goemon 4 for the SNES. One of the main reasons that GG4 is not translated yet, is because of it's compressed font. However, I got around that, by expanding the rom and adding ASM code to trick the game into loading an uncompressed font. Since the start of the project, I've made a lot of progress with the hacking.
So far I've replaced the Japanese cutscene and dialogue font. Currently, I've made a lot of progress on a VWF hack, but it's nowhere near finished yet.
Here's a screenshot of the VWF progress:
I've also managed to find a translator who's interested in this project. However, until I can write a decompressor for the compressed text, I won't be able to dump the script.
Also, here's a video showing off an early translation of the intro:
http://www.youtube.com/watch?v=CS_4RU82ZS0
I'm also planning to work on the 3rd game as well.