I'm also interested in SPC research (and possibly for the same reason you are
), but I have little to offer personally on the subject. From what I understand, SNES music is split up into its constituent instrument samples and a "sequence" file strings all the instruments together, gives them tempo, etc. An SPC file is the sequencing data and instruments spliced together, so these don't actually exist in the game in they way you'd think of an .MP3 file. The SPC is made just for portability's sake.
JCE3000GT is one of the great SPC researchers -- he had a site called Blitzkrieg Productions, but it's gone offline without a trace, which is a shame. We may have to summon him at some point, but Vehek is also an SNES music hacking veteran and could probably answer any question we'd come up with. This would be a good place to post any SPC or SNES game music documentation we happen to come across, and get the details of SNES music hacking out in the open.
First thing to do, tushantin, is scour the Compendium for previous conversations regarding SPC and SNES sound formats and notes left from previous sound hacking endeavors.