The overworld sprites are no problem except palettes will have to be very limited due to reflections and such used. There SHOULD be enough room in VRAM in battle since they actually have a horde of room left open for it.
I doubt it can be played on real console but people have done stranger things so guess it's all up to whomever wants to do the work. (Not sure if there are ANY 8MB games on the SNES).
Edit: Update.. sort of. I have a pretty weird sickness at the moment so progress may slow for a bit. But I'm thinking of moving the 'Treasure' items to being ACTUAL items that cannot be sold, bought or seen at all in stores nor can they be 'organized' in a sense. Essentially it's just easier this in case I want to add more Treasure items. Doing that, I'll have to find where and how each treasure item is used and make sure the game scans the treasure item area instead of the other inventory items. With that, ABCD is shoved to the end o the organization list and will have a new icon or 'Treasure' and be specifically or those kinds of items.
Edit 2: Made a small 'To-Do' list for the menu. Most of it resides in the item menu hilariously. Most part is I'm adding a new feature that's in the later games but it's really ridiculously hard to implement due to how the menu is coded. Basically you'll only scroll to the MAX items you have on your organization page instead of all 255 every single screen. L/R scrolling is perfectly fine, just up and down manually by arrows is ridiculously challenging.
Also, I finally figured out a couple values in RAM to dictate sprite stretching
The results are quite humorous. Running around with a giant Cless that lags the game or a dwarfism Cless. I love it!