Imagine being able to play these games on ARM without emulation? This is also one of my goals, but as stated in the article, the effort to port them without source code is substantial.
Quite possible. In the article I mention that a Lithuanian hacker by the name of notaz statically recompiled StarCraft, Diablo 1 & 2. But it's a huge effort, of course. Even better would be to (partially) decompile to, say, C for better performance.
It should be possible to automate translation of the machine code? I've disassembled pure binary with a tool before. How much more work to re-emit ARM? Especially with modern executable formats including debug info, identification of code and data segments etc. which was problematic with pure binary