Microsoft has released a version of Blue Dragon with English subtitles ... in Hong Kong, Taiwan, Korea and Singapore. That's not exactly helpful for US and European Xbox 360 owners who are yearning for the role-playing game from Mistwalker.
According to Siliconera, this release of the game features Japanese and Korean voice acting alongside English and Chinese subtitles. And though you might be thinking of importing the title, Joystiq should warn you that it's region locked, requiring a console from the area. They're not quite sure how Microsoft has defined (and subsequently locked) the regions, but Siliconera suggests that a Japanese Xbox 360 would work.
If you can wait, Blue Dragon will arrive in August for the US and September for Europe.