This game looks like quite a competent turn based RPG with some lovely 16/32bit graphics. It got a 28/40 from Famitsu (7,7,7,7), which is average. I'm looking forward to it, but i somehow doubt it will get a US release, not a very hyped game.
I'm not really sure if this one warrants a translation any more than other DS JRPGs. The battle system and the whole fairy\monster customization aspect remind me of SMT DS, only with a single human party member and more animation.