I know there's a fan translation going on, and there's some possible hope from Capcom itself, but has anyone thought about another type of fan project?
While we want to play the game, getting the story is probably the most important thing with people. In case something doesn't work out in either of the ways of getting the game, has anyone thought about taking the story of AAI2 and adapting it to a written story or an audio drama? Or another format? It might be a good option in case getting the game becomes an impossibility.

I'm not announcing it as a project of mine or anything [I can't read Japanese] I was just wondering if anybody had had any similar ideas.

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That's not going to happen. If you're desperate to know what happens, read Wikipedia. I'd just wait for the fan translation - Case 1 isn't all that far off from being completed now; as far as I'm aware, it's just a matter of localising the remainder of the literal translation, and then the insertion of assets. There might be a few tweaks needed on the programming side, I don't know much about that.