A: The project is considered "complete" as of 2016. No major bugs remain. Some menu text uses abbreviations ("ATK" instead of "Attack"), but it’s 99% polished.
The good news: A 100% English translation patch exists for Langrisser I & II on PSX. Langrisser 1 And 2 Psx Iso English
The "best" patch version is generally considered v1.2 (released around 2021), which fixed a crashing bug in Scenario 13 of Langrisser II and properly translated the class tree names. A: The project is considered "complete" as of 2016
Note: Do not confuse this with the Langrisser I & II remake released for Switch/PC in 2020. That remake uses chibi art and a different composer. Traditionalists almost universally prefer the PSX fan translation over the official 2020 remake. The "best" patch version is generally considered v1
If you type the keyword into Google, you will find many results—archive.org, CDRomance, and various ROM aggregators. However, as a responsible guide, we must address the elephant in the room.