Hi Rick - Preparing a new translation would be a bit out of my league - no, I'm just a "dedicated student". I do, however, come at these texts from the viewpoint that they are more specifically concerned with features of the night sky than perhaps is more generally acknowledged.
Looking at them with this approach opens the way to what I believe is a clearer understanding of what is really being talked about in many of the Utterances. I have been working for some time on the holy grail of correlating many of the actors seen in the texts with either stars or asterisms, and have recently completed a paper on the subject for which i am now seeking a publisher. There are many areas, however, which for lack of space I was forced to only touch on, and so I am now focusing my attention on these aspects.
I lean heavily on both Faulkner and J. P. Allen's translations - as should anyone who is interested in the PT's. That said, there is a metaphorical underpinning to these spells that I feel these two translations do not always seem to have grasped or acknowledge - but these works do at least provide sufficient clues to the existence of these underlying levels to allow one to see through the oblique language. As I said, the level I have been most concerned with is that of the viewable night sky.
Thanks for your question.