It's already been announced for a few weeks, but it looks like Otomedius is finally getting a home release. It's slated for Japan on the 360, 9/25/2008.
Assuming iNiS's Lips actually becomes a reality, I'd be dead set on getting a 360 by the Fall. How is the import situation with the system? What sort of mods, if necessary, are required to play different region-coded games?
EDIT: Is that a rearrangement of "Cherish The Blue Skies Given To Us" at the trailer's 1:15 mark?!