When I knew about Wii's lack of horsepower I was dissapointed, but at the same time I hoped that its low development costs and non HD would end up being an attraction for small developers. I guess I was right for once ^^
Also ZOMG @ 2D art done right in a 2007 videogame! Awesome.
Odin Sphere isn't an indicator. Odin Sphere was published by Atlus, OMY is published by Marvelous. Marvelous has a European publishing subsidiary, Rising Star, and pretty much every Marvelous game comes to Europe these days. That's why No More Heroes is confirmed for Europe (published by Rising Star, of course), but not for the US (no publisher).