I wouldn't mind it if the re-translation was more of a script-port of the recent U.S. releases.
It would make Romancing Saga 3 feel like an updated version of the vanilla game.
The full package, imo.
One should keep in mind, that RS3's names and dialoges were changed for the localisation.
For example, the final boss was renamed to Oblivion, instead to use for example, the more approciate name chosen by the Mana Sword translation. 破壊するもの Hakaisurumono means "Thing (which) does destruction", therefore naming the final boss Destroyer is the most fitting.
To compare, the word "Oblivion" in japanese has several meanings as substantives, according to Google Translate.
忘却 Bōkyaku = oblivion, forgetfulness, lapse of memory
遺却 Ikyaku = neglect, aberration, forgetfulness, oblivion, silence, obliviousness
虚無 Kyomu = nothingness, nihility, vacuity, nullity, nonbeing, oblivion
失念 Shitsunen = forgetting, oblivion, lapse of memory
The 3rd Kyomu fits the most context-wise, since Google Translate also translates it as "Void", which is a common theme in the main final fantasy games.
If the japanese had the most approciate name reflecting the name Oblivion, it would be 無の化身 Mu no keshin, which means translated "Incarnation of Nothingness".