In its latest issue, Weekly Famitsu covered the status of some anticipated games currently in development. Square's Wonderswan remake of Final Fantasy III apparently is taking much more time than originally planned, hence the game won't be released any time soon.
Sega, on the other hand, is set to make an official announcement regarding new Sakura Taisen game(s) on the PlayStation 2 soon.
The development of Sony Computer Entertainment's Arc the Lad: Twilight of Spirits for PS2 is currently 50% complete.
Last but not least, NEC Interchannel will release the PS2 version of their dating simulation Air soon. It will feature re-recorded voice acting and sound.