Just saw a blog by Jeremy Parish on 1UP that's depressing me further about the hope for an English release.
and no less than four people I talked to at TGS (both inside and outside of Square Enix) made it very clear that the English version of Type-0 is moribund, at least in its current form (again, for reasons).
While that does indeed confirm that some sort of localization is in the process, the rise of the Vita means the likelihood that they'll continue with a PSP localization decreases with each day. Personally, I don't intend on buying a Vita so I'd be pretty sad if this got released as a Vita game instead, assuming it gets an English release at all.
Link to original article: http://www.1up.com/do/blogEntry?bId=9114494