Michel, 

I have just pushed the branch where I started a tentative sphinx version of the doc on github (sphinx-doc-experimental). Also to see the result I pushed the generated html files here

dynare.ithaca.fr/dynare-manual

If you want to read the generated html files locally (on your computer) you should apache and configure apache2 (otherwise you will be missing some nice features like the search function). 

I wrote the introduction and the Installation and configuration chapter. I also wrote the outline for the other chapters and sections. I did not touch this since at least a month… The branch is up to date w.r.t master. We need to agree on the style and maybe write some python code to adjust the style. For instance, in the current manual, I think that there is a clear distinction between dynare commands and matlab/function…

Once we agree on the style (and modify the default style to our needs) it is not that hard to do the translation. For the first chapters, if I remember correctly, I used pandoc to convert the html pages into rst.

Best,
Stéphane.