It would be very sweet if someone made a hack for the American / European versions that restore blood that was censored. Just like someone made blood come back (even partially) in Mortal Kombat 1 of SNES. I think it's not too much difficult and burdensome to do.
Blood is pretty low on my priority list but I wouldn't mind seeing retranslations of the Rockman Zero games, it's not so much that Capcom screwed up the translations than it is they gave us boring, lifeless dialogue. Someone over at MMX Online translated the scripts before the games came out, and those scripts were far
better than the official translations, unfortunately I no longer have them and all that site's content is in limbo since they decided pretty site redesigns were more important than actual content.
Edit: Speaking of European, what retarded monkey came up with the idea of changing the European titlescreen logo for MMZ2-4? Gah, they're horrible, couldn't they have just reused the US logo?