Yeah, we're certainly not going to charge anything for our English patch of the game (what would be the point of that?) and nobody who's doing any work on it is getting paid either, so I don't think we'll have any issues in that line of legality.
In good news, we've got our first technical volunteer!!
He's working on getting the script extracted at the moment and I expect it'll take awhile (the technical stuff is all over my head) but once it has been, I'll contact all the translators who've volunteered and we'll begin work. :3 Man, this is so exciting!
However, we still need more techies to help out with the final patching, once the translations done. I don't want to shove all the work on the one guy we've currently got (<--who's absolutely fabulous for volunteering XD ) so if anyone who wants to do technical work or translation work still wants to help out, you can still volunteer during the next few months. I expect this's going to be a pretty long project, so there's not really a deadline for... uh, applications, I suppose. Application isn't really the right word--what I mean is, even if this thread gets super old and it looks like the project's died or something we're probably just still working away on all the details, so don't hesitate to contact me.
I'll also be updating the Suikogaiden Translation Project website, so that'll be a source of information too. :3