I love and have faith that Level 5, Atlus, and Square-Enix will make sequels to the games we all want. It may take them years(maybe decades) but it will happen. Irem making a sequel to Steambot Chronicles on the other hand is nothing but a dream. A sad and oh so close dream.
Steambot Chronicles for PS2 had everything. It was like Dark Cloud 2 mixed with Megaman Legends and some original aspects throw in as well. The game had a steam-punk world done right, customizable mechs more fun than any Armored Core game in years, wonderful cel-shaded graphics and enough side objectives and game-play to entertain you until the nights end. While it sold poorly on PS2 a sequel on PS3 could of been a hit.
The sad part of this dream is Steambot Chronicles 2 and several other games were in development by Irem but stopped soon after the heartbreaking earthquake/tsunami in Japan. Officially cancelled, Irem had this to say:
"To all of the users looking forward to the PlayStation 3 game, Irem apologizes for canceling Steambot Chronicles 2 and for any trouble this caused. The publisher says it is their heartfelt wish that fans would continue to support their future titles."
So what is Irem up to now? I don't know. Making most of their income developing software for pachinko/gaming machines they don't have an incentive to continue making games. I think they are making a 3DS game but I could care less. There seemed to be a sliver of hope concerning a spiritual sequel when the creator of Steambot Chronicles left Irem. Kazuma Kujo left to form his own company Granzella. Sounds great right? Wrong. His company has done nothing but make PlayStation Home spaces. Maybe the series will find its way on PSVita....we can dream right?