[Update: It appears the localization is finished, but for the time being Vanillaware is focusing its attention on completing development of Dragon's Crown.]
Vanillaware fans can't seem to catch much of a break lately. After making an announcement last year that they'd be bringing Grand Knights History to North America, XSEED is now canceling the project. The publisher cites insufficient resources to bring the turn-based PSP role-player Westward at this time.
This situation may have came about when XSEED procured the rights to The Last Story. As good of news as that was, it may have forced the publisher to juggle one too many pins. Hopefully one localized Eastern title won't have to come at the expense of another, and someone else will swoop in and rescue Grand Knights History from being another great game that never made it out of Japan.
Grand Knights History Canceled For North America [Siliconera]