The Last Story, created by the father of Final Fantasy himself Hironobu Sakaguchi, is one of the "Swords" from Operation Rainfall (a community formed to supposed the internation localization of 3 Japanese Wii games).
Xenoblade got a European release and will soon get an American release in April, 2012. Now that is all well and good and I will definitely find a way to score myself a copy of Xenoblade but The Last Story was the top game that I wanted localized from the 3 game being pushed by Operation Rainfall. With this English trailer it looks like I'm getting my wish. I hope that Pandora's Tower also gets localized because I am also very interested in that game.