Wow, Bette, this is very exciting news! Particularly since a decent quality copy of the movie with English subtitles has been unavailable (there is a very lowgrade VHS bootleg with English subtitles that has circulated for the past five years or so, and more recently, a boot of a decent quality Japanese DVD that has optional Japanese subtitles but no English).
There were plans to create a dubbed version with an English soundtrack for the US release, and Grayson is on record as having looped dialogue for that, but legal problems stalled the release and it never happened.
I look forward to a review! Maybe one of my buddies with cable will make me a copy, too!
For those who haven't seen it, try to imagine Grayson Hall in stratospheric chic French fashions with her hair pulled severely back and these little top-knot braids attached to the top of her head bugging out her eyes and imitating the Road Runner: "beep-beep!" I swear to God Herself you've never seen anything like it.
cheers, Gothick