BIG thanks to Suat Cagdas (sxsxsx) and Jenkey for the provided tools
Tools needed:
Blender 2.67 (zip version):
Work only with the .MODEL files included in the download archive, Base Face folder. Using other .MODEL files will make your face "collapse" during the shape transfer. This happens because of the different vertex order of the faces.
Lots of bugs on this release like the teeth and the eyes popping out. I'm still not familiar with KONAMI's XML editing.
Watch the tutorial: