Rejoice people, this is not dead. I've revisioned PW PSP and have continued work on it. It'll be a tad different than the PSX version, but I think people will enjoy it nonetheless.
Some things to look forward to:
-Blue Mage/Beastmaster/Hunter Luso.
-Balthier will have his FFXII and FFXII: RW skillset.
-Tonberries, Lamias, Werewolves, and Tortoises.
-The item system will not be the same as PW PSX's, instead focusing on a "normal" item system. That said, every weapon will have a fun effect, making them interesting to use.
-Onion Knights will have a skillset that allows them to modify their regular attacks to fit various needs in battle.
-New Executioner, Warrior, Elementalist, and Corsair jobs.
-Executioners focus on Thunder magic and quickly finishing foes off, as well as punishing foes who use buffs and debuffs. Executioners have only one requirement for unlocking: twenty kills.
-Warriors are the new base job, replacing Freelancer. They have the Aim skillset, which has been considerably buffed.
-Corsairs are the new primary ranged weapon users. They can learn the Gunslinger ability, allowing them to dual wield all guns. Their skillset is based around luck, similar to how Mustadio was in PW PSX.
-Elementalists replace Geomancers, but have a twist: they perform a different Song or Dance based on the terrain. Coupled with their ability to use Spears and Instruments, they are versatile units.
-Dragoons and Ninja remain, though slightly edited.
I'm not setting a release date for this because god knows when I'll be done with it. So... keep an eye out and you may be pleasantly surprised.