To address some common questions thus far:
PC version only. Sorry, but we couldn't swing the PSP, PS3, or Vita versions of the game (and all for completely different reasons, to boot -- none of which I'm really at liberty to talk about in any great detail, so you'll just have to trust that we tried our best!).
Localization duties are not being handled by Carpe Fulgur as with SC, but by more or less the same team responsible for the Trails of Cold Steel games. So if you liked the way Cold Steel turned out, you've got nothing at all to worry about with 3rd!
Nothing is being edited out or removed. In fact, as others have said, I believe Sara will even be attempting to add the previously PSP-exclusive elements to the PC release -- though of course, nothing can be guaranteed there, especially at this early stage. It's just sort of an idea/goal at this point.
So, yeah... to all y'all who said there was no way in hell 3rd would ever see the light of localization, all I can say is, EAT IT.
Heheheheh...
-Tom