I have a feeling this isn't really going to help NIS's situation at all.

Why?

If they go for subtitles only then cost of translation can't be that high so even with 20-50k sales they could get profitable.

Awesome news. Let's hope it works out for NIS.

this news makes me happy

"potentially the next major Japanese role-playing game powerhouse"

Come on, I have good expectations for Last Ranker...but that's simply ridiculous.

Though, it's good to hear that LR will have NIS localization, that's always good news

Capcom better bring Last Ranker, NIS is horrible.

How is NIS horrible?

I think people are getting a bit ahead of themselves, this deal only covers imageepoch's self published games; Black*Rock Shooter PSP, Final Promise Story PSP, Chevalier Saga Tactics PC/PSN an 4 more tba games (ARK Project, MARS Project, REMUS Project, TypeMoon collaboration).  It's kinda poetic considering that imageepoch actually got their start by doing support contracting on N1 games like Disgaea and Phantom Brave.

Stuff like 7th Dragon (Sega), The Last Ranker (Capcom) or Luminous Arc 3 (Marvelous) isn't covered, and personally I doubt any of the 3 of them get localized at all.  There is a 7th Dragon sequel coming in 2011 though, and maybe Sega will bring that over (*fingers crossed for 3DS*).

Nice, now lets get Nintendo to localize The Last Story and Xenoblade. Me Wii is DIEING for games! I want them and you will not bring them, i hate you.

Xenoblade and The Last Story are probably going to come over imo.  Maybe not until a year (or more) after Japan got them, but both are pretty prestige projects for Nintendo.

I just wish NOA had picked up Tales of Graces after Namco Bandai downsized Hometek (which killed it's in progress localization). :/