This is still essentially what I'm doing, except the ultimate goal of the project has changed: My goal now is to make a clone of the town (Micon) and first few floors of the Megami Tensei I dungeon, and then having thus polished the engine and demonstrated its effectiveness, eventually (pending the recruitment of an artist) replace all the copyrighted assets with new ones, replace all dungeon floors except the top town floor with procedurally generated floors, and release One-Eighth Moon as a Megami Tensei-inspired game engine with its own unique game attached.
BIG FREAKIN' DISCLAIMER
Of the art seen below, only the UI stuff is my own work ATM. The textures are upscaled direct rips of the Super Famicom originals, as is the character art, the moon graphic, the 2d background art for certain NPCs, etc. To reiterate, I do not have the copyright to this work, which is why I will not be releasing it to the public in this state. All of the art assets are © 1987-1995 Atlus. The only thing I have done to them is upscale them and tweak them slightly to make them look better at modern resolutions. Fonts are taken from a public domain source.

Dungeon crawling (Fully working)

Story NPCs (fully working)

Shop NPCs and 2D backgrounds (partially working)
To reiterate, The art assets used in these screenshots such as the textures, character art, moon, and 2d prerendered backgrounds, are © 1987-1995 Atlus
I'm currently working on the scripting engine for the NPCs, and combat/demon recruitment will likely come next.