While there hasn't been a peep or even a release date for the US Release of No More Heroes: Heroes Paradise, the load time ridden, buggy PS3 port of the game, Japan has a date for the Konami fixed version. It's also going to be budget priced.
It's getting the dreaded Z rating (18+) and for once that actually means completely uncensored. It's release date is July 21st, a month before Westerners are expected to pay full retail for it. That leaves the only reason to wait for the US release is if you absolutely can't stand menus/instructions in Japanese. Maybe the date and price will change, but I can't recall any time where the Western improved version of game was released in Japan before the West and budget priced.