Procrastinato on 13 March 2009
I sincerely doubt S-E would abandon one of their classic franchises (in Japan) to single-HD-console-death, by signing a full exclusive contract with MS. Its timed almost for certain.
It'll likely be announced after the zipped-lips timer is up on the 360 timed-exclusive version of SO4... probably at E3 this year. Heck it'll probably be on store shelves this holiday season.
Not many good reasons for S-E to leave it as is, really, unlike their mediocre new 360 IPs (okay... just one IP: IU, since TLR is supposedly still coming to the PS3), unless Star Ocean was a franchise they felt they were done with, in Japan.
