I can't speak for Ron, nor do I have any of his wizardy in my brain, but perhaps I can offer a couple things to the discussion. I've used several boxes of Type 55 so I have some familiarity with it.
You're right. It is/was an absolutely excellent film. I've said many times that I could have been happy just using Type 55 for everything.
One problem I see with reverse engineering it is with the film base material. The stuff that was used was pretty unique. It was a lot thinner yet stronger than conventional film bases. To my meager knowledge, Type 55/665 and Kodak Panatomic X were the only commercial films that used this base material. All of those films are out of commercial production so I would suspect that the base material is nearly impossible to find. Could it be reverse-engineered? I'm sure it could, but producing it would take a full-scale plastic/chemical sheet production facility.
The second problem I see is one that Ron has wrote about before. The most difficult thing to manufacture on the instant films was the chemical pod. Not that the chemistry was hard, it was the pod itself that was very difficult to do.
My suggestion is to experiment with monobath developers. David Goldfarb has been writing about them lately. No chemical pods required.
You may be able to still find some retailers with a small stock of Type 55. Be prepared to spend at least $100 per box for it. I checked Polaroid's web store and they are no longer listing it.
Type 55 and 665 were stunning films. Its a shame they are gone but that's the unfortunate reality.