Yeah, thats what I'd do, complete with cute little avatars of characters. The ero scenes would be the the most difficult things to do. Depending on things, I'd probably find offsite hosting for the scenes themselves even though I'd still end up adding censoring (much like the Tsukihime LP on the archive). Images, not sure about, though those would probably be linked to in those scenes behind more NSFW tags when appropriate.
One of the things with Rance is that he's really the absolute worst kind of person imaginable, but he's somehow gone so far over the moral event horizon that he's come back around, couple that with a bizarre childlike honesty and you end up with an absolutely hilarious MC. Hyper Weapon™ indeed.
Edit: There really is something wrong with me to be seriously considering doing this... Especially when I currently don't have internet at home (working on fixing that this week).