That's pretty cool, though I'm not sure how they would've made a seperate series out of it unless Dracula just wouldn't stay dead in the 20th century. I think this was around the time that IGA said Castlevania games were piling up in bargain bins in Japan, so it probably wasn't horribly successful there financially. It was a bit under the radar in the US, too, I never saw it at Toys R Us or any rental stores. I didn't even hear about it until the late 90s, and I wasn't a hardcore fan of the series then.
Maybe they realized the gameplay didn't differ much at all with the CV series, so that's why they made it just another Castlevania game in the US and Europe.
One of the cooler things that you posted in another thread is that they crowdsourced some of the enemies and bosses, which is how we got the swinging scythe enemies in Versailles and the cool dual-headed shadow boss. I wish they'd do more of that these days, but you only ever see it in Kickstarters if you contribute $1,000.