You first should learn how to hook DirectX or direct3d by bypassing PB. Once your there your pretty much home free, all you have to do next is access the buffer and modify opacity or set it to wireframe. I know a hella lot about DirectX and its components...
A game without setrenderstate is impossible... Hes on crack, you may not be able to set the state after its initialized, so you have to do it when it sets up the device.
acually, i am to believe the standard setrenderstate wont work.
and you will never bypass d3d by hijacking the device...its more complicated now.
i would try clearing the z buffer, or perhaps using a pixel shader to do the job.