Oh yeah, Katt! (Fun fact, in Swedish "katt" is literally just the word for "cat".) In the end I always preferred BoF3 over 2, but both had ups and downs. (3 had the first decently working system for dragon transformations, but it didn't have the world map bird travel that 1 and 2 had which made it feel like it was missing something to properly be Breath of Fire.)
The fans are doing what Capdon't. On that note, anyone who picked up the IP could've easily provided the fans with a Legends 3, if they chose to do so. If Nintendo has shown anything with Megaman's inclusion in Smash Bros, as well as his Final Smash, it's that they clearly care way more about Megaman than Capcom does right now.
It's entirely possible, though they aren't using any assets from the game at all. If it does happen, it'd be the biggest "fuck you" Capcom could possibly give to the fanbase. It'd be political suicide if they took that route.
Hey Capcom, I have a few ideals to save your company. Make a new Megaman series that stays true to the original like Megaman X did, that should print money. Remake the first four BoF games like you did for Strider, and keep the art style of the originals. If only they would.
Probably be easiest to find it for an emulator like Zsnes. Or, if you want to get it legit, it was released on Game Boy Advance a while back. Don't know if it's on the Wii or 3DS virtual console or not.