The game is likely going to take 8+ months to localize. It has already been said that both localization and development of the 360 build will be done simultaneously, beginning after completing the Japanese PS3 release of the game.
Keep in mind this is not a full port from one platform to another. Crystal Tools has been a multi-platform engine for some time now. SE is not going to be re-coding the entire game for the 360, but is rather going to be bug fixing, performance tweaking, and maybe coding some hardware specific portions. They should certainly be able to do so parallel to all the translation and voice work (different teams are involved with development and translation, so it won't slow either team down). Given that, I highly doubt this would delay the (as officially stated: simultaneous) release in the west by any considerable period of time.
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