For the past few days I've been working on getting frauber's "Super Mario 64: The Missing Stars" to run on N64 console. I've got most of the levels working, but there are still a bunch of visual bugs that I need to fix. I can't say when I'll be done, but here is a little preview video showing off my current progress.
I'm not entirely sure what your asking, so I'll give some context to the situation.
All currently released Super Mario 64 ROM hacks will not run on actual N64 hardware. The reason why custom levels don't work is a little complicated to explain (you can blame VL-Tone's ROM extender and frauber's level importer). We have identified most of the major issues and now have a good idea on how to fix older ROM hacks to get them to run on console. You can see this thread for all the technical details. Any ROM hack made with Skelux's SM64 editor v2.0.5 or later should* be console compatible. * Lots of emphasis on "should", as there might be other problems we don't know about.
Some ROM hacks are specialized as they have custom coding in them, which can make them harder to fix. For example: Kaze's Last Impact crashes even before the title screen shows up, so we would need to dig into the ROM and the ASM code to identify the problem. Frauber's "SM64: The Missing Stars" will be a lot easier to fix than Last Impact or Skelux's Star Road since it's a lot smaller in scope than those hacks. There are still a lot of little bugs that cause the graphics to mess up and can even cause the game to crash. I am currently working on fixing those bugs to make "The Missing Stars" run as smoothly as I can make it on console. I can also add in my own custom content into the game, which I may or may not do.
I find it fitting that the first "full" SM64 ROM hack should also be the first fully console-compatible ROM hack. I'll have to get into contact with frauber first before I can release it though.
The gameplay footage that you see in the video is from my N64 system running my work-in-progress ROM off an EverDrive64 flash-cartridge.