Here's a quick update on the project status: the project team has recently succeeded in creating full-audio game images that fit onto 80-minute CD-Rs. After some final minor development work these will soon be put through a period of beta testing on real hardware to make sure they work as expected.
About a delivery estimate: it's not possible to be specific yet. At its broadest - definitely within 2018 and before Shenmue III! It will largely come down to whether any major issues arise during beta testing. If it goes smoothly then within the first half of the year should be realistic.
Oh well, works for me, I guess. After all I've waited, it'll probably be worth waiting a bit more. I guess I can cut my teeth with What's Shenmue in the meantime #-o. Thanks to everyone involved in both projects, btw =D>.
Edit: And boo to the manufacturers of lousy CD-R 900s!!!