If you are a PS3 owner desperately waiting for Bayonetta, just import the game. Silconera
has confirmed that the game is region free and entirely in English! This includes the in-game menus, voices, text, etc. Basically everything but the manual.

PS3 owners pre-order now, the game is being released in Japan tomorrow, so if you pre-order today you should get it by early next week.

Hopefully, the 360 version will be region free, but I wouldn't count on it. Knowing Microsoft, 360 owners have a lot of waiting to do.