BTW, it's not too unusual for Marvelous to be making this game instead of GameArts. A number of Lunar games have been contracted out.
The two original games on the Sega CD were made by GameArts. The Saturn/PSX/PC remakes were made by Kadowkawa Shoten/Jam. The GBA remake of the remakes was made by Media Rings. Of course, those were all remakes...
As for the English translations, Working Designs did the Sega CD/PSX games. They were translating the PC remake, but eventually cancelled it. They skipped the GBA remake, despite having apparently "warmed up" to carts and Nintendo, because the Japanese version sold poorly. Ubi Soft picked it up, and was well rewarded by it's American success.
Victor Ireland (WD's president) mentioned on the Gaming Age forums that he's not doing Lunar Genesis because UbiSoft picked it up before he even knew it existed. And beyond that, even without UbiSoft being in the way, Working Designs wouldn't be translating this game because they think the DS is going to bomb horribly (and not in the hardcore "Working Designs" way). Also, they think that the PSP is the greatest thing since sliced bread. In fact, Vic is apparently pimping the PSP in Japan, because they want it to succeed that badly. So yeah, don't expect any Nintendo-love from Working Designs for another generation or three.