No, unless I'm mistaken SG3 is a binary file format that could be loaded by the Saturn. I haven't seen any SGL demos using it, but I've seen documentation about it, with headers and all.
The problem with C files is that if you just include headers in your code, it fills your RAM way too quickly, so I don't fully understand yet how games load assets that are hardcoded.
As for the errors, I've had errors such as the print format being wrong (it changed in recent versions of python if I understand), but I also had other errors, I don't think it's anything big, I would just need to "convert" it to modern versions of Blender.
Btw, anyone knows if Rockin'B is still active?