Also interested in this, so I found out more about the history of the patch itself ... ... ... ...
http://zenade.angelfire.com/EDF/EDF2.html ... ... ... ... The Patch does not overwrite any files, the native EDF2.DAT file from the jpn folder is replaced by loading the EDF2.DAT file from the usa folder at some point, and the WEAPONCOMMENTLIST.VFS from the usa "EDF2.DAT" package replaces the WEAPONCOMMENTLIST.VFS from the jpn "EDF2.DAT". ... ... ... ... the patch calls and replaces these files from the memory that is used, its not a simple patch involving overwriting just one file within the .iso, and it is not a direct translation, the author of the patch only simplifies a manual process involving "CWCheat", for files that are already translated, within the game itself, its a lot of swap and replacement thats all no translation, since the files from the publisher have been translated but not used (all files within the game's .iso itself anyway).
I tried a few things, but I don't believe its possible to just make a manual patch for the .iso, since it seems to have a lba table that references file sizes, so your just stuck using the old manual patch with "CWCheat" or the new plugin patch.
(Someone really has to translate the japan EDF2.DAT file from the ground up, but I don't care about that ... ... ... ... already tried swap and replacement and hex editing the weaponcommentlist file from the patch and it fails, since its not that simple ... ... ... ... instead, since I don't care to install or use a plugin for just one game on my psp,
I will try the plugin patch on my PSP VITA with TN-V installed later and let you know if it works there, otherwise this game is cans until a proper translation is preformed)
*** The Patch does not work on 3.55 with TN-V on a PSP Vita (Not a big loss, the game doesn't require any english to enjoy, there is a newer english version of Earth Defense Force for Vita though)