Apparently, the Zelda Minish Cap decomp is almost done. There are even some interesting discoveries like how the game actually uses 3D hitboxes despite being entirely in 2D.
@galena You wouldn't normally need to use 3D hitboxes though. You can just tell the game to ignore certain collisions when in a jump state. Link's Awakening had the Roc's Feather (a similar item) and it didn't use 3D hitboxes.