You know, this is the first time I've ever seen extended Xenoblade gameplay. I've been supporting Project Rainfall mainly on principle.
Honestly, this looks pretty damn boring. Same fake MMO gameplay as FFXII and White Knight Chronicles.
Still, it should be localized. I'm sure some people will be really into it and demand is certainly high enough.
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~LtM
http://img202.imageshack.us/img202/1028/ltm.png