Even if the conversion has no sound?
I did a similar conversion for another game and just took the CD soundtrack and did it like MS5. Streaming a single track with the music mixed into a single channel already. Didn't sound as good as the original but it's a lot less effort than sequencing it MIDI style.
For the topic I can think of a couple reasons why it's not worth the effort:
-I look into the ISO and see over 100MB of PCM that's probably mostly voice acting. Compare to the latest releases only having carts capable of 16M maximum. Similar issue with sprites too.
-The ISO data track is bigger than Fast Striker. There's probably a lot of redundancy that I missed but it should give you an idea of how much work would have to go into this and the sort of cartridge you'd need to accomodate it. That's before music is even factored into it.
-Programmer effort ofcourse...
It'd be a neat novelty but in the end it'd pretty much be the same as playing in an emulator with load time simulation disabled.