Thanks for the response deadlyfoez. I do hope we see a release. And I agree, Mario in HD is awesome.
NECROBUMP
This project has finally been released, their homepage is here
There is no point asking if it can be converted to an ISO, it's just not possible
and here's the banner for GX and WiiFlow
https://www.dropbox.com/s/8fnbv1l1wm5khfm/NWRP01.bnr