Haha nice user name, Dr. Zoidberg. Yeah, I am a pretty good chipset artist. Not that I'm any good at art per say, more so I understand the art of creating chipsets specifically for rm2k. Lol. Still, this project in particular uses a lot of custom as well as other sources, so it won't be 100 % custom.
About a year or so ago I became fed up with the color limit, as a lot of my work would lose some of its original color depth after indexing the colors to 256 bits. But, I have learned to live with it. I am gonna stick with rm2k for the foreseeable future. The color limit is the only thing I don't like about rm2k.
Anyway, do not expect a demo or anything soon. ; )