Is Monolith Soft's epic Wii RPG finally heading to Europe?

This is a pretty big one if true. A seemingly trustworthy source at Neogaf has claimed to have received a Nintendo PR statement confirming Nintendo and Monolith Soft's epic RPG Xenoblade for a European release.

The much-sought-after RPG will reportedly be released later this year as Xenoblade Chronicles, feature English AND Japanese voice-overs, and be fully subtitled in English, French, Spanish, German and Italian.

For many, this will no doubt be the best news of the year so far. It must be stressed that this hasn't been confirmed by Nintendo, so keep it locked as we await word from the official channels.

Update: And here is is. Nintendo of Europe have opened the official website for Xenoblade Chronicles.