This game will most likely be out in Japan no later than Christmas 2010 as an exclusive for the PS3. The PS3 had White Knight Chronicles as a holiday exlusive in 2008 in Japan, it will have FFXIII as a holiday exclusive in Japan in 2009, and FF Versus XIII as a holiday exclusive in Japan in 2010. By admitting this info at Gamecon, they are indicating the game isn't that far off.
Finally, I don't know why people keep saying this game will be on 360. After, the release of GT5 and FFXIII as PS3 exclusives in Japan later this year, it won't be that long before the PS3 hits the magical 5 million (and rapidly growing mark) in Japan while the 360 will remain stagnant in the sub 1.5 million range, so almost all Japanese development of HD games including those of Square will primarily be on PS3 and not a system where they don't even sell well worldwide like the 360.
The reason it has taken so long for Final Fantasy XIII to be released was because Microsoft felt that they had to have their own version of it to keep the PS3 down. Otherwise FFXIII would have been out as a PS3 exclusive Christmas 2008 and Versus in 2009. What MS failed to do was to buy a Japanese version of FFXIII which could have actually helped their console out some in Japan. A Western version of FFXIII on the 360 doesn't really matter that much as the 360's main audience doesn't care about jrpgs as seen from poor sales of all jrpgs on the console so far, and the Western version of FFXIII on 360 will do lucky to sell half of what the PS3 version will in the in Europe and the USA. The 360 version of FFXIII's sales in US and Europe together probably won't even be equal to Japanese sales for FFXIII on PS3









