Yes. That is my top priority.
"Will this recreated opening crawl be part of the "Faces" transfer, or will it be part of a completely separate project? Personally, I am interested in a straight LD to DVD transfer of the "Faces" set containing no recreations or improvements."
Debateable. Until I get a DL-burner, it will probably be a separate disc (depending on how much material is added.) My intent is to make a DVD with both versions to choose from.
"But if it is possible to get a "Faces" transfer devoid of any modifications, that would be great."
Not at all. This is certainly going to happen.