A Color restoration for the GBA version of FFIV is a great idea but the idea of include downscaled battle backgrounds from the PSP version is where i automatically disagree
Not to veer too off-topic regarding FF4 but you can’t “restore” the colors in the battle backgrounds from the GBA version because they were redone completely and there’s no reference material to restore it to, but they’re still overtly bright because it’s a GBA game. It’s not pixel art, it’s already a downscaled painting/drawing to begin with. And most of the battle backgrounds from the PSP version seem to be based off of the same source paintings/drawings that the GBA version used, just not brightened. Either way the PSP battle BG’s is the only thing closest to reference colors for the GBA battle BG’s.
With that said I’m not sure if I’ll ever mess with FF4 GBA. While working with GBA is convenient for a variety of reasons, the GBA port suffers from lag and the fast pace of the original SNES version is completely ruined in that. Maybe someday it could be fixed.
EDIT:
Don't want to double post so I'll just edit this, but here's some screenshots of progress on FF1:

Some things to note:
* key items capped at 9 tiles
* regular items capped at 7 tiles
* equipment capped at 8 tiles
* spells capped at 7 tiles
* enemy names capped at 10 tiles
* these abbreviation choices are not final; I’m considering implementing icons for staffs and hammers
I do plan on expanding player names to 5 or 6 characters. So far ASM edits haven't been too bad because Disch's FF1 disassembly has been useful (even though the disassembly is for the US FF1, the offsets aren't too far off from the Japanese version anyways so it saves me a lot of trouble).
Obviously this won't be as fancy of a makeover as Final Fantasy Restored. I'm not trying to make the definitive FF1, I'm just trying to make an English version of the original FF1 as it is and approach it the same way that I did FF2 and FF3. Hope you guys can understand that.