This is, of course, a much bigger factor for games which are text-heavy, like JRPG's, or puzzle games, like Layton.
So, things like Pokemon (which are RPG's but have little actual discussion) might be able to get a Global Release? Pokemon is a very large franchise so I would think that would be a good idea for it.
Sadly, I don't think so. All the names have to be translated, as do the descriptions for each 'mon, and the guides, and the descriptions, and all the other trainers...
It's not so big an issue as many, though.
I think it should be possible to do Japan then Europe/America, though. Or the other way round. If everything is translated for the EU countries, then America should follow suit quite swiftly after.
Well, it could be done where it is released in Japan first then America and the major English Speaking Countries in Europe, later on they could make it to where Germany and Spain (etc.) would have a translated version into their language. Do you think that would work better?
Well, not really, because every game released in the UK have to have the 5-in-1, even if it's English-speaking with the other languages merely being subtitles.
And if you do it your way, having a RPG released in Jan. 1st 2000, you'd get the American version in June, the English version in October, the rest in Europe in February 2001 and other countries in October. That's 22 months from inital release.
TBH, the way it is now, where we wait about 5 months for most games, is perfectly fine. We'll be seeing the next Layton in September or October.