Before trying to release even more obscure SNES RPGs, they should think about trying to fix the series they have. Like Mana or Chrono. A simple enhanced port of Seiken Densetsu 3 to the DS (much like Chrono Trigger got) could sell a million and enhance the Mana series greatly. And a new Chrono game would be the next cult classic for their company.
But as for just the logistics of releasing games period, SquareEnix can't even get games to sell outside of Japan. They only have two major series that sell outside of Japan (Final Fantasy and Kingdom Hearts) because they drop the ball on advertising all the others. Their biggest series in Japan, Dragon Quest, is already getting full remakes and entire new games, but SE is making no effort on trying to even push the games outside of Japan. Much like they let series such as Mana, Front Mission and etc go dry. There's little point in asking them to release a port of an old SNES title when they can't even handle what they already have on their plate.
SquareEnix is in no position to think of adding more to their agenda. If anything, they need to cut back on what they're already doing and put more into advertising.
Six upcoming games you should look into:
