Hm, skimming it this looks promising, but the last post was a while ago. I wonder if real life got in the way or if the series is abandoned. Either way I'm favoriting this to look at later as I'm planning to do exactly this, and seeing someone do it in rust for reference will be incredibly useful.
I'm building a YARV compatible bytecode VM using the standard CRuby code to do the lexing, parsing, and compilation. It's the first time I've built anything more complex than a toy interpreter.
Finally, there's also Dora https://github.com/dinfuehr/dora by Dominik Inführ, who is interning with the V8 team in Münich. Dora is incrementally compiled, though, rather than being a bytecode VM.
Sorry about that, I'm still in the process of converting my notes and memories into coherent posts. I just put up another one, and should have the next few shortly.
Finally read through what you have up so far (reading w/o coding for now as I have other commitments today) and I wanted to say I love what you have so far. Though an oddity the date of the post is July 20th for some reason (in case that matters to you)