Well, I went and finished the game even with the issues it has...
The translation is mostly alright, minus the screwed up UI and some weird hiccups here and there, so I guess I can't complain TOO much... but it's definitely not as good as what Kagura throws out, translation-wise. There's more than a few places where lines run out of the screen and other such things too, though it's not enough to make you miss anything critical.
The biggest issue, as far as I can tell, is the fact that the "Raunchiness Transfer" spell, however it was supposed to be called, doesn't work. That's a major problem because it cuts you off from most scenes with the side-characters, short of unlocking them later.
Also, speaking of the unlock gallery function once you finish the game... I had to use it twice to actually get it to work, so keep that in mind. There's some post game content too... but I'm not sure if I'm gonna bother with it unless they fix shite. Though by that point, I might have moved on to different things. I have enough of a backlog... >.>"
Oh, and the UI is very fucked in the gallery, so you can't really know what variation you're picking on the scene. You have to figure it out via trial and error, which is super annoying...
At the end of the day, not worth buying on release... though might be worth buying if Shiravune actually fixes a bunch of this crap....