The way things are now, you'll be able to play the Japanese version of Tales of Graces, in English; on any Wii; as soon as the fan-translation project for it wraps up.
No idea on what the ETA on it are, but I probably wouldn't hold my breath. It probably wont be done over night.

Their method is simple; You download the "patch", you put it on an SD card, you boot your Wii, you insert the Graces disc, you follow the provided instructions on how to run the homebrew application (currently it'll work on any Wii and any firmware and with either of the two versions of Graces), the game will start and it'll be in English. Guess that's the closest you'll get to an English Nintendo release.