It was indeed a great help. Thank you. 
*Edit: I'm still making my way through MT2 (just beat Bael), and noticing quite a few mistranslated or confusing lines.
I'm not sure if people have had a chance to test the special events that happen in part 2 when you play from the end of part 1, so I'll try to list them out. I got these from a Japanese web page, but it seems accurate as far as I can tell. And obviously, much of this will be spoilers, so I'll hide them under that tag.
Secret Events in Kyuuyaku Megami Tensei:
Spoiler: - Obtaining Hinokagutsuchi - Once you defeat or ally with Lucifer, return to the spot where you found the Nihil sword from the statue in Ueno. The sword should then be there.
- Jack Frost, Jr. - Go to a room with an empty treasure chest, then take one step outside, and then push Down on the control pad 31 times, and then re-enter the room. He will ask if you know his Mama, so say yes. You will receive $3000, 3000 MAG and 10,000 EXP. After this, you can encounter a Jack o'Lantern in the area outside Bael's Castle and talk to him. Doing so should trigger an extra message and will let you find Jack Frost, Jr. one more time.
- Susanoo - When the Girl gets captured by Astaroth in the Forest, enter the cave in the northwest part of the region and find the area where it says "You see traces of someone having been here." There should be a girl there who asks to join you, so say Yes. Make sure you have a spot in your party. If you refuse or don't have a spot free, this event will not occur again.
- Rag's Shop Member's Card - In MT1, if you enter Rag's Shop more than twice, you'll receive a Member's Card. If you beat MT1 and then exit the Devil Buster game on MT2, you can talk to the boy in the shelter and he'll give you the card. Take the card to Rag's Shop and you'll trade it in for a Heidrun, which restores all HP, MP and removes any status except DEAD.
- Izanami's Robe - In MT1 in Mazurka, you can find a Silk Thread item that you can take to Izanami. If you continue on to MT2 and meet Izanami in Belial's Castle and revive her, she will give you Izanami's Robe.
- The 4 Gods - Play MT2 from a MT1 cleared save, and when you defeat Bael, destroy the frog. After that, rooms where you saw a message saying "A stagnant air is flowing here" will teleport you to a new map (DDS' note: the 3 rooms are in Shinjuku Underground, Bael's Castle and the Forest of Confusion's northwest cave). In here, spots where you run into Green Slimes are places where you have a chance to meet a special Deity demon (DDS' note: It's a 1/32 chance). They are Artemis, Leto, and Apollo. If you collect all 3 and then fuse them together, you will receive Deity Zeus.
- Jack Frost's Mama and Papa - Play a MT2 game from a MT1 cleared save, and collect the Heidrun. Then obtain a "Fallen Angel Wing" from the Code Breaker game in Bael's Castle. Then trigger the event with Jack Frost, Jr. After that, if you go to a Cathedral of Shadows, Papa will appear and give you Qing Long, Bai Long and Kali. Once you beat MT2 and return to the shelter, go see the nurse and Mama will appear and introduce you to the 4 hidden gods.
- Mountain of Trash - Play MT2 from a MT1 cleared save, destroy Bael as a frog, and do not get Hinokagutsuchi. If these conditions are met, you can go to B2F of Ginza and find the mountain of trash. Searching it will give you $5000 and 2000 MAG, and then a crystal ball will appear in the back. Answer Yes when it asks if you'll touch it. You'll be warped to a new map with a lot of high level enemies. You can escape by finding the room with the elder. If you go to the mountain before fulfilling those 3 conditions or answer No when asked to touch the crystal, it will not reappear and you will not be able to warp.
I'll edit these as I verify them in-game.
08-27-14 Update: I've finished playing through MT2 and made many, many changes to the dialogue for a more accurate translation. I have also discovered a few bugs along the way, like the upper-left MAG and macca counters sometimes displaying zero when you enter a store or room (I made a change in the code that should fix this, but it happens extremely rarely and I haven't been able to reproduce it). I have also discovered one more bug with the in-combat item menu, where it will display garbage if you have more than 9 items and attempt to scroll through them.
As soon as I finish fixing that last bug, the game should be ready for an official release. If you are still in the process of beta testing the game and have anything to report, please do so soon. I am planning to gather all my notes, tools and source code that I used for this project and will put them on the Romhacking Aerie site along with the official release. It is my hope that it might prove useful to those that wish to localize the game in their own language or to serve as examples for people interested in learning how to program.
*Further Edit: The last bug is fixed. I will spend the next day or so getting everything ready for the release, and then it just might be time to celebrate. 
Well, as I said I would, I'd go back and play MT II to see if those special events that you spoke of do take place, and for the sake of spoilers, I'll not mention them and just leave them in your quote.
That being said, they're all true as I spent a few days checking them all out. I would've said something earlier, but I didn't have a particular item to check one of the special events because in a previous save, I used the item a bit too early. *Spoilers ahead*
At any rate, going through the special events that I missed was fun and gives good replay value. Thanks for the info

, as it was all pretty accurate.
Edit: I made an error in my spoilers quote above, which I'll mention below...
And there you have it lol. But yeah, my mistake about the last part.