Yeah, I'm actually glad that Sega came out and made this official. Makes the decision to import that much easier. Usually companies just leave you hanging in uncertainty...
It's a weird situation. The first game didn't do great in Japan and actually sold much better in the US, though not at first. It had a really bad start (since Sega did absolutely nothing to advertise it) but gained enough positive buzz that it eventually sold pretty well (though not until after the price had dropped). However by that point the decision to move the franchise to the PSP had likely already been made, and given the information available at the time I honestly don't think it was nearly as bad a decision as a lot of people make it out to be. PSP games are cheaper to make, the PSP is absolutely huge in Japan, and it didn't initially look like there was a big market for the game overseas.
So then came VC2 which was a budget game in a lot of respects. The gameplay was still rock solid but the story and presentation suffered. Sega decided to bring it over thanks to all the positive attention the first game got, but in the end it sold like shit here because it's a PSP game and nobody seems to buy PSP games anymore (well, they never bought them much at all...).
From what I have read and played of the demo, VC3 looks like a big improvement over VC2. It is a return to form in a lot of ways, but with refinements to the gameplay. Even if you were put off by the presentation in VC2 you should still think about giving VC3 a shot (via importing, obviously...).
By the way, VC3 is getting a re-release
with some extra content and 'budget' (for Japan, anyway...) pricing November 23. If you were thinking about importing then you should probably wait for that version.