I'm sure that pretty much a lot of the people in the Tales fandom have already lost faith in ever getting a new Tales game localized these days, yet fans still find that little trickle of hope whenever some online sources hint at localizations. This is basically a list of all the localization rumors that have been floating around the net. It's your call whether to believe any of them or not, because for me, I'll believe it when I have the game's localized copy, in my hands.
Let's start with the most recent. GameInformer's 2011 Video Game Release Schedule. Under the Wii category, they have Tales of Graces for a Q1 release. GameInformer is a gaming magazine published by GameStop, a known video game and software retailer in the US. Some say GameInformer is reliable enough, but given the other errors in the entirety of their list, I'm not sure what to believe.
Another is this so-called interview from someone on Facebook (I can see your faces going at just the mention of that, haha). Apparently, this person was able to actually make an audience with one of Namco Bandai's press representatives, so he just went on right ahead for an interview. It pretty much covers a lot of the questions we fans have been wanting answered, about why ToS PS2 and ToDDC never made it here, about the reason why ToV PS3 and ToGF aren't getting localizations, about the reason they won't ask another company to localize the Tales games, about that little slip up before by voice actor Troy Baker and if they are even to localize anything else in the future. The main reason they give us is lack of budget. The Facebook note is here, and to those without FB, you can view it here. Later though, Namdai claims that the interview in no way represents them at all. With an interview that so thoroughly covered the things we've always wanted answered, it did seem a bit too convenient.
There's also the info on VGReleases which also schedules it with a Q1 release. Again, there is a big fat RUMOR plastered on this, so yeah.
Then there was this one posted on Yahoo's Associated Content, saying that the new rumor is that ToG will be localized for the Wii, but with all the extras included in the PS3 version... Now that is just confusing. So far, many have labeled this article fake, but again, it's up to you.
Again, as for me, I'll believe it when a physical copy is already in my hands. But there's still nothing wrong with getting everyone's hopes up just a bit, right?