Apparently Yuki Iwai became in charge of Wavelink Zeal as of nov 2007 (
here). She also composed for R-Type Tactics 2.
Takayuki Iwai doesn't seem to be around anymore nor part of Wavelink Zeal, he didn't work on R-Type Tactics 1 or 2. I wonder what happened to him...
EDIT (I'll throw here
this) Yuki Iwai has a tenor sax younger brother, 里村稔