Somewhat, they indeed reversed some of KH1FM explaining PS2 files in the ISO but they also used some of the source code files hidden in Jap KH1 also and maybe their beta code (since that had a 4th slot for summon in the trailer) and rebuilt all of it into 1.5 with the extra features.
My only question was why couldn't they run the original music well that was due to time constraints and maybe also PS3 hardware. I remember Falk from NeoGAF gave a short discussion on that.
Regardless if PS4/One ports happen (rumored KH 2.9 stuff) then I can see that function being added back in. Also hope for KH 2.9 to be a reality for both consoles because that further increases PC odds of getting it (they usually port the One version to PC due to DX and especially when it's more connected than ever)
With the five slots right? Sounds good, but it idk how to move the fifth slot on it's own. When you try to move the fourth slot, the fifth one follows it
There is PS2 controller remapper. It's mostly does codebreaker and pnach, but I think we can hex it into the elf if we want to. The only issue is that the graphics on some HUDs will still correspond to O. Hopefully we can fix that as well.
Like Sora said only cutscenes. There seems to be some trouble with translating bubble scenes. Also there might be some glitches if there are report them.
It seems like they are doing the dame with the FFX HD remasters too. Such a shame would have been awesome to experience it in 3D on the TV. Still can, but you would need a powerful PC and then again the improvements will be absent