Good news indeed - if it's true.
> They know they're going to release games in the major European
> languages, so this should all be prepared parallel to the game's
> development, not tacked on later.
Most games, with any sense, use files with lists of sentences for text and the appropriate sound efects based on speech so that the game loads them in at runtime during development and not hard coded into the engine. So developers produce the game in their own language and then the final version is translated from that.
As most games delayed due to regionalisation are japanese, the game will be finalised in Japanese and only translated once the strings and audio samples are complete. Translating every single change made to the game's script during development would just be a logistical nightmare.
This could also efect American games coming to Europe as German might not necessarily be an American publisher's priority.
It should also be understood that the translations are generally handled by publishers and not by individual developers.
They know they're going to release games in the major European languages, so this should all be prepared parallel to the game's development, not tacked on later. In "the old days", fair enough - but the games industry is big enough now that issues like this shouldn't cause delays.
Besides, with HDTV being a global standard, they should by rights be treating at least the UK/Australia the same as the US with regard to game releases. When we speak the same language, I don't see why we need to wait for Europe.
Especially a Sony product. :)