Mugen Souls is another game by the developers of Hyperdimension Neptunia. While Hyperdimension Neptunia received poor reviews hopefully the Compile Heart team is now more experienced and ready to put out a solid game for the PS3. It certainly looks better and it is possible that NIS of America will localize the title considering their track record. There are no gameplay trailers yet but a promotional trailer can be viewed at the link below.
http://www.crunchyroll.com/anime-news/2011/10/27/video-dance-along-to-the-first-mugen-souls-trailer <—- Trailer and image source.