From what I recall the reason Fatal Frame 4 didn't come out in the US is that there were problems in the game that needed fixing, Temco thought Nintendo should pay for that and Nintendo thought Temco should fix them. I don't recall whether these were bugs, the flashlight mechanics (which were all wrong), or both. That is probably why not only was it not localized for the US, but also NOE canned it after already having ads for it.
Anyway, as long as the flashlight mechanics are not fixed in FF 4, I would much rather get the Fatal Frame 2 remake that is in the making than Fatal Frame 4. Now as to whether that one will ever be localized, that is another question...
Currently Playing: Shin Megami Tensei: Devil Survivor Overclocked, Professor Layton and the Curious Village
Anticipating: Xenoblade, The Last Story, Mario Kart 7, Rayman Origins, Zelda SS, Crush3D, Tales of the Abyss 3DS, MGS:Snake Eater 3DS, RE:Revelations, Time Travellers, Professor Layton vs. Ace Attorney, Luigi's Mansion 2, MH TriG, DQ Monsters, Heroes of Ruin
