This is a mostly-minor edit of the Shiro release. The credit should go to everyone who worked hard to make that release possible; I only touched up the subtitle files.
The Shiro release of Persona 4: The Animation is, visually speaking, extremely good. I can't speak to the accuracy or quality of the translation itself, but the production values are fantastic. Non-distracting sign effects that surely took a lot of time and effort to be looking as good as they are once properly timed and integrated into the script.
The problem with the Shiro release of Persona 4: The Animation is that many of the effects weren't properly timed and integrated into the script. Something went wrong during QA and resulted in signs that are mistimed or otherwise wrong, including one instance of a sign that was mistimed by 4.5 seconds. There are other issues outside of just timing (probably the thing I spent the most time and effort on was getting the eyecatches to be consistent), but that was the biggest problem. I went ahead and fixed as many problems as I could find and decided to share the result.
Overview of edits:
* Sign timing and integration changes, as stated above
* The first OP said "doughs" when the actual lyric is "doubts"
* Some lines were set lower on the screen for no apparent reason (my best guess is it was a hold over from using a TV source)
* Changed "Eight-Forked Serpent" to "Yamata-no-Orochi", as that is the name used in the English version of the game
* The masking for the letter in episode 21 was completely redone
* Episode 23's audio tracks weren't given the proper language tags (this is the only edit I made to this release outside of the subtitle files)
* Episode 24 suddenly started calling Teddie "Kuma"
* Numerous minor spelling/grammar/miscellaneous fixes, some because they were wrong, others for the sake of consistency