I certainly hope so, because it's coming to the PlayStation 3 this January — and it may well make its way West at some point in the future.
I'm glad the series is graduating to the PS3. It's not that I think Japanese role-playing game developer can't do good things with the PS2; I just think all my hold-out buddies would cave and upgrade if more JRPGs made the jump.
Ar Tonelico III's first details hit Famitsu magazine a couple of days ago. There's a new battle system based around combining "hymnos" during combat and the game takes place on Sol Clusta. Hit up these guys for a better re-cap of the Famitsu reveal.