The PC Engine definately deserves more love in the translation scene which is bizare considering the sheer amount of quality JRPG's and exclusive Japanese titles it has.
From what I gather here is the state of the current scene;
Legend of Xanadu I & II - (translated but awaiting dubbing to be finished by elmer / SamIAm)
Cosmic Fantasy 1 (in progress - Dave Shadoff)
Dead of the Brain I & II (French translation in progress - Dave Shadoff)
Tengai Makyou Ziria (Tom &? Maybe EsperKnight who was working on it previously? Tom has expressd a desire to translate the Tengai Makyou games for the PC Engine, starting with Ziria but he wants to finish Zill O'll first).
Emerald Dragon (the project has been resurrected by NightWolve and he has been posting updates on his Twitter page).
Startling Odyssey II (Tru) (machine translated) (Not accepted by many to be a genuine translation but it's playable enough).
Seiya Monogatari (script extracted by Elmer but not translated)
Tenshi no Uta 1 & 2 (preliminary analysis being conducted by Elmer)
Gai Flame (translated and completed but for some reason it has not been uploaded on the Romhacking website).
City Hunter (Filler / Cabbage - script translated, currently being reinserted/hacked).
Victory Life (script extracted by Filler).
Cyber Knight (the intro and some early parts of the game has been translated by Megatron-UK but appears he has abandoned the project - https://github.com/megatron-uk/cyberknight-pce