Star Ocean 4 is coming out on the 5th of June, but there are issues with it. Nazna's review was critical of freezing problems, and I think there have been problems with slowdowns. Also, IGN's review highlighted backtracking issues over disc changing.

I know the game hasn't been announced for PS3 yet, but I am leaning towards waiting to get it on a blu-ray disc, most likely with extra content.

Really depends on two things.

1. Are you hungry for JRPG? 

2. What's your backlog look like?

I would stay away from purchasing it unless you really want another JRPG and you don't have anything else to play.

wat??...SO4 is coming to PS3??....please tell me it's true...

Well, if it does come to PS3, it will have to have some sort of extra content; apparently Sony demands this of late ports.

^That's true, any late port on the PS3 has to have extra content. I'd wait until E3 at least, if it is coming to the PS3 that's when it'll probably be announced.

for sure wait, I almost threw my controller when after 20 hours i had to get up and swap discs.

as for all others stated, i didn't notice anything. why wait for a maybe release.

3. the game isnt a graphical powerhouse. so it wont get old fast like other games do. the gameplay and the story will remain.

My opinion is that even if it does come out on PS3, it may be a while yet (I would guess 6 months minimum) judging from ToV. You might also want to think how much more is extra content when for ToV it was only one supporting character? Late ports between consoles really didnt yield much extra content - other examples BioShock.

But take mine with a grain of salt as I only own a 360 and am extremely hungry for another JRPG already, even after The Last Remnant. Feel I have been waiting for SO4 for ages!

Just rent the 360 version first. If you have the issues mentioned, wait it out, if it doesn't effect your experience pick it up.

MAY get announced at E3.